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Saturday, May 2, 2015

Wooing pension funds for cash

The State General Accounting Office has sent a letter to commercial banks asking them not to impose the usual penalty on state entities that decide to access their time deposits in order to supply the state with desperately needed cash. Despite the original opposition, the social security funds are finally giving in and handing over their cash reserves to the Bank of Greece, with about 290 million euros of that expected to be turned over to the central bank next week.


READ THE ORIGINAL POST AT www.ekathimerini.com