Business World

Friday 15 December 2017

Debt-laden Greece will run out of money next month

Independent.ie reporters

Debt-laden Greece has enough money to pay wages and pension until next month, the country’s Finance Minister said today.

The comments of Filippos Sachinidis highlight the desperation for the country to qualify for the next round of the EU/IMF bailout.



"We have definitely maneuvering space within October," Mr Sachinidis said in an interview on Greek TV.



"We are trying to make sure the state can continue to operate without problems," he added.



Greece's international lenders have threatened to hold off on the next bailout payment of about €8bn as the country fails to meet fiscal targets.



The Greek government was also forced to announce new austerity measures at the weekend including a new property tax.



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