Bloomberg News

Papademos Says Hard for Greece to Make June Payments,Ta Nea Says

May 14, 2012

The Greek state will find it difficult to cover its payment needs in June, Ta Nea said citing Prime Minister Lucas Papademos in a letter given to Greek President Karolos Papoulias.

The withholding of 1 billion euros ($1.3 billion) from the May loan tranche from the European Union, the European Central Bank and the International Monetary Fund and May 6 elections stalling the tax collection process are putting pressure on the state’s coffers the Athens-based newspaper reported, without saying how it obtained the letter.

To contact the reporter on this story: Eleni Chrepa in Athens at echrepa@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net


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