Analysts have expected that Greece would default on installment of just over 13 billion, since the country’s treasury is bunnskrapt.
Between June 30 and August 20. matures further 8.7 billion euros in loan payments to IMF, ECB and the European Investment Bank (EIB). The loan program with creditors from the EU and IMF expires Tuesday, while the first installment of the IMF therefore due.
Tsipras withdrew Friday from the negotiations with the creditors in the EU and the IMF about what should happen with the Greek loan program. It expires Tuesday, and the Greeks have not wanted to go with the lenders’ terms of cuts and reforms to extend it for five months. Instead, Tsipras having a referendum on the terms. (© NTB)
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