Once again the Greek state in acute pengenød. Without new money transfers from the other euro countries Treasury bunnskrapt April 20, according to sources in Athens.
Meanwhile vacuum finance ministry in Athens state companies for cash to ensure enough money.
It is yet no acute danger of a lack of money for tourists heading to Greece.
Will pay nearly 20 billion
Tuesday, the State out of 1.7 billion euros (15 billion. kr) in wages and pensions to state employees.
A week later – April 9 – decaying 450 million euros (3.9 billion. kr) in principal and interest on loans to the International Monetary Fund (IMF).
Sources in Brussels say told Reuters that Greece hardly have money to do both payments.
Trade with the other euro countries
All this week, there have been negotiations in Athens and Brussels about new remittances to Greece.
The left-dominated Syriza government claims Greece is entitled to be reimbursed 3.1 billion euros (27 billion. kr) from the euro community:
- 1.2 billion euros should be money that was erroneously reversed from the Greek crisis Fund (HFSF) to EU countries crisis fund EFSE (European Financial Stability Facility) in the last month.
- The rest of the “amount due” shall be Greece’s share of the profits to the European Central Bank (ECB) trade with Greek government bonds.
Capital flight from banks
The tension rises. Greek banks experiencing anew a great demand from bank customers who empty their accounts.
Last week it was taken out almost 400 million euros (3.5 billion. Kr) every day, says an anonymous bank peak in Athens to the British newspaper Financial Times.
In January and February there were record large withdrawals from Greek banks, figures as the Greek central bank published this week.
This worries Brussels.
If money withdrawals continue at the same pace going Greek banks soon empty of cash.
Until further’ve euro central bank ECB increased the ceiling for short-term liquidity loans to Greek banks by 2 billion euros (17.4 bn. NOK) to ensure that banks have money to daily operations.
No risk of Norwegian tourists
The tour operator Apollo, which is great on vacation traveling to Greece and Greek islands, have not received messages from Greek partners about the risk that Greek banks and ATMs run out of money, says communication Beatriz Rivera Aftenposten.
The last time there was such a crisis situation, was advised tourists to take with some extra cash in euros and credit cards.
Credit cards are not normally affected if the banks emptied of cash.
“Grexit” accidentally
ECB -sjefen Mario Draghi reiterated this week that if the Greek banks are no longer payment skilled, the ECB was forced to stop all forms of emergency loans to banks.
Anonymous sources in Brussels say that if such a situation occurs, Greece will be forced to leave the eurozone – “Grexit” – “by accident.”
To maintain a banking can national authorities and the central bank may need to reintroduce drachma as currency and initiate printing press to ensure banks enough cash and a functioning monetary system.
Nederlands Finance Jeroen Dijsselbloem – leader of the group of finance ministers in the euro countries deal with the crisis in Greece – has previously said that the major outlets of money from Greek banks in January and February year, was the main reason that the Greek government was forced to accept an extension of crisis program with the EU and IMF.
Working with new reform package
Syriza government is going to present a new package of reform proposals for the other euro countries by Monday, according to the country’s trade minister Giorgos Stathakis.
Among the proposals are several measures to increase tax revenue.
The reform package is a difficult issue for government, writes the online edition of the Greek newspaper Kathimerini.
It is not appropriate to increase the retirement age further from 67 years, said government spokesman Gavriil Sakellaridis to Greek radio earlier this week.
New emergency meeting Brussels next week
In talks with German Chancellor Angela Merkel will Prime Minister Alexis Tsipras have said that his government does not want a third emergency loans from the EU / IMF.
After the preliminary plan is intended that finance ministers of the euro countries Tuesday to take a position on the new reform proposals of Athens.
EU summits in Brussels has made it clear that Greece does not get paid the last billions of crisis loans totaling 240 billion euros (2000 billion. kr) before finance ministers set to approved stamp on the new reforms.
Ministers on “beggar ways” to China
Among the themes that Greece and its creditors have failed to agree on at this crossroads is the size of the called primary budget surplus. This is the government budget surplus before interest payments and repayments on the large national debt that has grown to over 300 billion euros (2600 billion. Kr).
According to media leaks, the government must find additional 900 million euros (7.8 billion. kr) in revenue for achieving the goal of a primary budget surplus of 1.5 percent this year.
The Greek Deputy Prime Minister Yiannis Dragasaki and Secretary Nikos Kotzias was earlier this week on “beggar ways” to China. Purpose, according to Greek media be examining opportunities for Chinese investment in Greece and increased trade between the two countries.
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