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Monday, June 1, 2015

Greece may need to default on debts as IMF deadline looms, warns Goldman

Athens could be forced to take drastic action, including snap elections, amid fears it will miss €305m payment to IMF on Friday, investment bank saysGreece may have to default on its debts and impose curbs on bank withdrawals before reaching a deal with its creditors, according to Goldman Sachs, as a crucial payment deadline approaches.The pressure on Athens increased on Monday as a senior German central banker warned that it was “five minutes to midnight” for a Greek financial system on the cusp of collapse.The Greek government would be well advised to act quickly. For the Greeks banks it is five minutes to midnight Continue reading...


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