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  Economics 
14 of April, 10:53

Greece is on the verge of default
Greece may declare a default in case of failure of aid from creditors. Power will need to go for it, if you will not come to an agreement with creditors before the end of April.

Greece is in an extremely precarious situation: the economic situation in the country almost to the brink of catastrophe. If international lenders refuse to the state in the allocation of funds from the Fund support, Greece will have to default.

If the agreement between the International monetary Fund (IMF) and the government will not be achieved by the end of April, Greece will simply run out of cash, informs The Financial Times. The newspaper reports that the government has run out of funds even to pay the pensions and salaries of state employees. In this regard, Athens decided to preserve the payment at the beginning of may and June the IMF in the amount of 2.5 billion euros, if no agreement is concluded.

Note that except for debts to state employees and employees of social services, Athens still needs the IMF. Greece need to pay to the International Fund by may 1, 203 million euros, 12 may - 770 million euros, at the beginning of June and another 1.6 billion euros. Of course this is an exorbitant amount for power.

"We're at the end of the road. If the Europeans did not transfer cash from Fund monetary support, then the other way but as a default, we will not, " declared the unknown informant publications in the Greek government.

Note, the experts assume that the whole of the European Union will be under threat if Greece will not make the loan agreement. Of course default does not automatically result in the exclusion of powers from the EU, however the Prime Minister will be harder to keep Greece within the Union. Meanwhile, the EU itself, whose strength may be enough to survive a Greek default, considers similar prospects as a step into the unknown. Together with this people foreign publications report that a Greek default after 5 years after receiving the first tranche of monetary support from the IMF in the amount of 245 billion euros will be an unprecedented shock to 16-year-old monetary Union of the EU.

sections: Economics, World News, Accidents

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