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Former Greek PM Papademos: Gov To Run Out Of Cash By End Of June
On May 11, former Greek Prime Minister Lucas Papademos sent a warning memo to President Carolos Papouliasstating stating that the government will run out of cash by the end of June if the country doesn't receive the next aid payment due to the suspension of the EU/IMF program, according to a To Vima's report via AFP. "The available funds in the Greek government will be reduced gradually from about €3.8bn on May 11 to about €700m on June 18 and from June 20 will enter negative territory at the level of around €1bn...From late June onwards, the ability of the government to fund its obligations fully depends on ... (full story)
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