Posted Apr 2, 2015 by Martin Armstrong
Greece today has come out and informed its creditors that it will run out of
money on April 9th. This is an appeal for more loans before any reforms are completed upon which new disbursements hinge. Brussels has rejected this request. Meanwhile,
Greece has officially denied that it would miss the IMF repayment deadline. Nonetheless, Athens will have to face this blunt crazy fact for it needs €7.2 billion euros of new loans from the Euroland and the IMF if it implements reforms that the previous government agreed would be the condition for disbursement.
Timing wise, the week of 04/06 has been a target for some time now.