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Tuesday, May 12, 2015

Greece Runs Out of Cash In Two Weeks

As expected, no deal with Greece has been struck at yesterday's Eurogroup meeting.

Right on cue up pops "sidelined" Varoufakis (who still holds office), warning that Greece will run out of cash in two weeks and that the liquidity issue is "terribly urgent":
"The liquidity issue is a terribly urgent issue. It's common knowledge, let's not beat around the bush.

From the perspective [of timing], we are talking about the next couple of weeks."
Then why oh why has the Greek government squandered the last 100+ days since it was elected to office?

The Germans have all but given up on Greece, and are now pushing for Greece to hold a referendum in the hope that Greece self exits from the eurozone.

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