Greece on the edge, taps emergency reserves to pay IMF loan
May 13 , 2015
In another reminder of how precarious Greece’s finances are, the country had to tap into its emergency reserves to pay an IMF loan, reports say.
The government was forced to do this in order to make the €750 million debt payment to the IMF, just a day before the deadline.
Greek Finance Minister Yanis Varoufakis has warned that the country is barely two weeks from a cash crisis. Last week the mayor of Thessaloniki city revealed that he gave away cash reserves after an appeal from the government.