Greece: Help. Our cash reserves are now zero.

Discussion in 'Economics' started by Grandluxe, Jul 31, 2012.

  1. Debt crisis: live

    Greece's deputy finance minister warns that the near-bankrupt country is "on the brink" with cash reserves at "almost zero," as eurozone unemployment hits a record level of 11.2pc.

    By Szu Ping Chan1:17PM BST 31 Jul 2012

    11.46 Greece is "on the brink" and fast running out of cash, deputy finance minister Christos Staikouras has warned. He told state TV:

    "Cash reserves are almost zero. It is risky to say until when (they will last) as it always depends on the budget execution, revenues and expenditure [...] But we are certainly on the brink, we did not receive the aid tranche we were supposed to and we have the pending issue of an ECB bond maturing on August 20."
  2. 11.2%, who are they kidding? The real rate is what, 25-30%?