May
20
Greek Finances to Stagger On Longer Than You Think
ByWhile Greece says a deal is near, the country has enough money to last weeks, maybe even two months.
Greece will probably struggle through June before finally running out of money in early July.
That’s the assessment of economists at Bloomberg Intelligence, who concluded that Greek lenders have enough collateral to keep emergency funds flowing from the European Central Bank for another eight weeks, so long as policy makers don’t tighten the terms of liquidity. Tax revenue may be enough to keep the government afloat for about the same amount of time, economists Jamie Murray and David Powell said in a research note. The 3.5 billion-euro ($3.9 billion) payment due to the European Central Bank on July 20 may be the end of the road…
