It is a story that has been told several times before, but with the nation struggling to find the cash to pay public workers and pensioners, the end may be close for Greece according to a recent Financial Times article. The rumors remain unsubstantiated and the Greek Government fired back with a rebuttal, but the numbers do not lie. Without the EUR 7.2 billion in funds promised under the second bailout agreement the government will be unable to meet its IMF obligations in May which number just shy of EUR 1 billion in May and EUR 1.6 billion in June. This is raising the specter of capital controls for the nation as the Government feverishly plans for the day after default. This is also increasing speculation that other nations in the Euro Area like Spain will require an imminent restructuring of debt after the Government called for talks with creditors.
Greek Default Rumor Sends Euro Plunging
Daily Analysis - 14/04/2015