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Greece's financial situation 'terribly urgent', says finance minister

  • Greek finance minister Yanis Varoufakis has described the country’s financial situation as “terribly urgent”, one which could lead to a cash crisis within two weeks.

    He gave this warning after finance ministers from the eurozone met to discuss the Greek bailout.

    Greece is finding it difficult to fulfill its payment obligations. It has begun transferring $834 million in debt interest to the IMF just ahead of the deadline.

    Indicating that time was running out to find a solution, Varoufakis said that there was no point “beating around the bush” in acknowledging the reality. 

    Tagged as: Greek finance minister, Yanis Varoufakis, Greece debt, Greece payment, Greek cash crisis, Greece bailout, eurozone, business news