2015-05-12

Greece Enters the Endgame

Greece tapped its emergency IMF reserves to pay IMF debt
Greece emptied an emergency IMF holding account to repay 750 million euros ($839 million) due to the international lender, a Greek central bank official said, avoiding default but underscoring the dire state of the country's finances.
Greece has to repay that money in one month, so we know two things. Greece is broke, for real, and it is one-month until the end unless there's a deal.

Also this: Russia invites Greece to join BRICS bank. Since Greece is now a developing country, it makes sense...

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