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Greece Struggles to Make Debt Math Work Amid Bailout Standoff
As talks over the disbursement of bailout funds for Greece drag on into their seventh consecutive month, the deadlock threatens to pull the country back into a recession this quarter, or even a possible default within weeks. Greece needs to refinance or repay about 6.5 billion euros ($7.2 billion) in debt and interest in the next three weeks, including Treasury bill redemptions, according to data compiled by Bloomberg. To top that, its budget forecasts a 2.1 billion cash deficit in March. A shortfall in tax revenue already opened a cash hole of 217 million euros in January, derailing budget targets. Having lost ... (full story)