The Telegraph: Greece Planning Nationalising Banks, Issuing Parallel Currency
Greece is drawing up plans to nationalise banks and introduce a parallel currency to pay salaries and pensions unless the eurozone softens its demands for austerity measures, according to Britain’s The Telegraph .
The governing coalition led by left-wing Syriza party could also decide to default on an International Monetary Fund (IMF) loan next week, according to sources close to Syriza, the newspaper said.
“We are a Left-wing government. If we have to choose between a default to the IMF or a default to our own people, it is a no-brainer,” The Telegraph quoted a senior Greek official as saying.
“We may have to go into a silent arrears process with the IMF. This will cause a furore in the markets and means that the clock will start to tick much faster,” the source added.
Greece has to pay EUR 458 M to the IMF on April 9. If the government does this, it won’t have enough money left to cover salary and social security payments to state employees unless the eurozone agrees to disburse the next tranche of its interim bailout financing in time.
“We will shut down the banks and nationalise them, and then issue IOUs if we have to, and we all know what this means. What we will not do is become a protectorate of the EU,” according to a source The Telegraph quoted in its article.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » EU May Impose New Sanctions on Belarus as early as Monday
- » Poland Increases Security on Border with Belarus after Threat of Migrants Increases
- » Polish Politicians on Decision of EU Court: They Declared War on Us!
- » Warsaw: We will Not Comply with the EU Declaration of the Rule of Law
- » European Leaders Attacked Poland at a Summit in Brussels
- » EU Commissioner for Health and Food Safety Supports Introduction of "Green Certificate" in Bulgaria