Greek spokesman says June 5 will be “the moment of truth”, as the ECB considers whether to keep supplying emergency support to its banks 8.09am BST The euro fell sharply following the warning that Greece could miss its repayment to the IMF on June 5.It hit a two week low against the US dollar at $1.107. 8.03am BST Greece will prioritise pensions and wages rather than repaying the IMF, if creditors don’t unlock some of the €7.2bn in outstanding bailout funds, added Nikos Filis.“There is no money for the foreign (lenders) when they have not given us any funds for a year...We don’t have it to make the payment and this is part of the discussion.” 7.54am BST The Greek government has warned that it will miss its next repayment to the International Monetary Fund unless a deal is reached soon.Nikos Filis, the government’s parliamentary speaker, raised the stakes in its negotiations with its lenders this morning.“Now is the moment that negotiations are coming to a head. Now is the moment of truth, on June 5.“If there is no deal by then that will address the current funding problem, they won’t get any money.”GREECE WILL NOT MAKE JUNE 5 IMF LOAN REPAYMENT IF NO DEAL WITH LENDERS IS REACHED BY THEN- GOVT PARLIAMENTARY SPEAKER - RTRS 7.52am BST Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. It is possible that two thirds of the council will support the move as soon as the Wednesday vote.The haircuts were lowered last year after Greece returned to capital markets. The council is considering returning to the levels applied before the reduction, according to two people familiar with the matter.ECB ensnared in politics as it faces vote on Bank of Greece loans: http://t.co/PH8k3ORqmS #FT Continue reading...
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