Ambrose Evans-Pritchard on Greece
Greece may be short on money due to the IMF, Telegraph columnist Ambrose Evans-Pritchard writes today.
The Greeks must pay the IMF €1.5bn in a series of deadlines this month, starting with €300m as soon as Friday. No developed country has ever defaulted to the IMF in the history of the Bretton Woods financial system. Such a move would shatter confidence and reduce Greece to a financial pariah in motley company with Zimbabwe.
The country may try to tap social security or pension funds to make the payments, he says and that could breach various laws.
