Coalition courts controversy with emergency law to tap general gov't cash reserves

PoliticsGreek Politics Tags: Parliament

The government has drawn up legislation that would force general government bodies, including municipalities and hospitals, to place their cash reserves with the Bank of Greece, which could allow the government to cover its debt obligations over the next few weeks.

This move from the coalition was expected in the wake of earlier legislation that made it voluntary for general government bodies to make their reserves available to the central government. A number of officials, including mayors and pension fund manage...

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