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Currency Analyst since 2010

Greece missed IMF repayment

Greece missed a debt payment to the International Monetary Fund and announced that it would bundle four payments into a single 1.6 billion euro lump sum due on June 30.

Greek Prime Minister Alexis Tsipras criticized the terms demanded by the nation’s creditors in return for financial aid. Tsipras will present creditors’ proposals to parliament from 15:00 GMT. Greece’s economy minister George Stathakis said today that “the Greek government cannot accept these new proposals put on the table.”

Still, Stathakis underlined that Greece has to remain in the euro and that the negotiations will continue. According to German Chancellor Angela Merkel, the talks are “still far from reaching a conclusion.”

 

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