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As Taxes Dry Up, Greece Warns of Going Broke
As European leaders grapple with how to preserve their monetary union, Greece is rapidly running out of money. Government coffers could be empty as soon as July, shortly after this month’s pivotal elections. In the worst case, Athens might have to temporarily stop paying for salaries and pensions, along with imports of fuel, food and pharmaceuticals. Officials, scrambling for solutions, have considered dipping into funds that are supposed to be for Greece’s troubled banks. Some are even suggesting doling out i.o.u.’s. Greek leaders said that despite their latest bailout of 130 billion euros, or $161.7 ... (full story)
- Posted: Jun 5, 2012 11:19pm
- Submitted by:Category: Fundamental AnalysisComments: 4 / Views: 1,500