Greece resorts to emergency account to repay IMF debt

AFP ^ | May 12, 2015 | Staff

[C19fan]

Greece was forced to tap into an emergency account in order to meet a debt repayment of 750 million euros ($845 million) due Tuesday to the International Monetary Fund, a central bank source told AFP.

"That was an initiative by the Bank of Greece's governor to break the deadlock," said the source.

[C19fan]

The Greeks had to break open the piggy bank.

[snoringbear]

Well, gotta hand it to the Greeks, got plenty of chutzpah. While refusing to pay on their two previous bailouts, demanding a third. All the while screaming "we will not be blackmailed!" I say let them twist in the wind. If they want to get in bed with the Russians, so be it. Once they do though, kick them out of NATO as well 😊!

[William Tell]

One phrase from the linked article reveals much about the problem: "... an unpopular property tax that would enable the government to save billions of euros as demanded by its creditors."

Anyone who can refer to a "property tax" as some sort of savings is NEVER going to accidently find their way to economic responsibility.