Greece running out of liquidity buffers

EPA/YANNIS KOLESIDIS

Managing director of the European Stability Mechanism Klaus Regling leaves the Greek Finance Minister after his meeting Greece's Finance Minister Gikas Chardouvelis (not pictured) in Athens, Greece, 09 July 2014. The Greek Finance Ministry officially announced that Greece will make a new attempt to borrow from international markets through the issue of a three-year bond worth 2.5-3.0 billion euros. Sources at the ministry said that the interest rate is expected to be set at 3-3.5 percent.

Sources say Greece will not default


Chief Executive Officer of the European Financial Stability Facility and Managing Director of the European Stability Mechanism Klaus Regling warned today that Greece's liquidity situation is becoming critical while in New York, the Director of the IMF's European Department, Poul Thomsen, warned that “Greece's numbers” don't look good.

Klaus Regling expressed “hope there will be some progress soon in Greece because liquidity buffers are becoming clearly very, very small.”

During his briefin...


This story is part of New Europe's Premium content.

To Read the Full Story, Subscribe or Sign In from the ↑ Top of the Page ↑
new europe join now