Snap elections in Greece bring state's liquidity constraints into focus

Economy

The failure to elect a president in Greece, triggering snap elections on January 25 in 2015, brings into sharp focus the issue of what liquidity is available to the Greek state and any government that is formed next year.

Speaking in Parliament on December 22 Finance Minister Gikas Hardouvelis said Greeceā€™s financing needs amount to 4.5 billion euros in the first quarter (Q1) of 2015. These mainly comprise of interest payments (2.2 billion) and IMF repayments estimated a...

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