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Monday, April 20, 2015

Athens issues decree demanding cash reserves from public sector bodies

Prime minister Alexis Tsipras’s administration is forcing central government entities to transfer cash to the central bank to help keep the country afloatThe Greek government has issued a decree forcing public sector bodies to transfer idle cash reserves to the central bank, in a sign of how severe the country’s cash crunch has become.With the state due to pay almost €2bn (£1.4bn) in salary and pension payments in coming weeks and then almost €1bn to the International Monetary Fund in May, Greece is scrambling to find funds. Continue reading...


READ THE ORIGINAL POST AT www.theguardian.com