Greece Says It Cannot Repay an IMF Loan Due Early Next Month

May 21, 2015 by mosesman

[youtube=https://www.youtube.com/watch?v=nWErDrGdFFY]

Published on May 20, 2015
The European Commissioner for Economic and Financial Affairs has urged Athens to speed up its reforms program, warning that Europe is running out of time. Pierre Moscovici has stressed Greece should stay within the euro bloc, adding that there is no other alternative. He, however, added that the reforms program should allow Greece to be more competitive and allow for more social justice within the country. Athens and eurobloc remain at odds over further cuts in public spending and civil servants pensions. Greece needs a deal with international creditors to unblock the remaining batch of loans worth 7-point-2 billion euros. Athens has warned that it will face a default without a bailout deal before June 5. It has also said that it will give priority to the payment of salaries, pensions and the country’s general running costs rather than the International Monetary Fund’s repayment on June 5.

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