After Greece coughs up $504 million to make its next debt payment to the International Monetary Fund on Thursday, the country may soon face the difficult choice all bankrupt countries eventually have to make: Pay debts, or pay pensioners?
Greek officials initially had threatened to delay the IMF payment, in hopes of getting the next installment of $7.7 billion in bailout money from the European Union. But last Sunday, Finance Minister Yanis Varoufakis reassured IMF Chief Christine Lagarde that Greece would indeed send the money.
Greece is quickly running out of cash, even as negotiations with the European Union drag on. On …read more
Source: Foreign Policy
