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FT: Greece prepares for debt default if talks with creditors fail
Kerin Hope and Tony Barber
Financial Times, London
Monday, April 13, 2015
Greece is preparing to take the dramatic step of declaring a debt default unless it can reach a deal with its international creditors by the end of April, according to people briefed on the radical leftist government's thinking.
The government, which is rapidly running out of funds to pay public sector salaries and state pensions, has decided to withhold E2.5 billion of payments due to the International Monetary Fund in May and June if no agreement is struck, they said.
“We have come to the end of the road . ... . If the Europeans won't release bailout cash, there is no alternative" to a default, one government official said. ...
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