Morningstar article reports that Greek treasury and empty out by March but definitely by the summer

(Last Updated On: January 26, 2015)

Morningstar article reports that Greek treasury and empty out by March but definitely by the summer

Unless Syriza caves in, and is helped by face-saving concessions by Europe, Greece risks running out of money by summer or earlier. That looming prospect would have the potential to trigger bank runs and capital controls. If Greece can’t finance its government or banks in euros, it would be forced to print drachmas.

Greece lacks the cash to repay bonds held by the ECB that fall due in July and August. Eurozone officials say that they fear Greece might even run short of cash to repay its IMF loans that are falling due in March, because this winter’s Greek political turmoil has hurt the economy and tax revenues.

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