Washington (Reuters) – Greece teetering into bankruptcy.
The highly indebted country is by the deadline on Tuesday evening of the 1.6 billion-euro payment obligation to the International Monetary Fund do not fulfill, such as the IMF announced. Greece is the first industrial country, of the IMF arrears. Previously, payments were guilty there, among others Zimbabwe, Sudan and Cuba.
Athens could now only get more IMF funds once the arrears are cleared, said the spokesman for the fund, Gerry Rice. The IMF also confirmed that Greece had not asked at the last minute, having to make the payment later. In addition the Fund to IMF chief Christine Lagarde will advise in due course.
At midnight also ran out of the utility of the Greek euro partners. Because the left-wing government in Athens in time failed to agree on the reform and austerity measures for further assistance with international donors, the government should now get clammy more and more problems. The movement of capital has been very limited. In addition, the fact already assured billion now missing in the payment of wages and interest rates. New proposals from Athens to resolve the conflict at the last minute were late on in Brussels, although the negotiations in the next few days should continue.
The Greek economy has shrunk in recent years by one quarter, the unemployment rate the highest in the euro zone. Prime Minister Alexis Tsipras blames mainly the austerity responsible. He insists on a haircut and fresh funds from the EU, rejects the reforms required as the pension and tax system but from.
The rating agency Fitch downgraded the rating for long-term credit rating of Greece by one notch to “CC”. Because of the first failed negotiations in the debt drama climb the risk of Hellas in the coming months its obligations could not agree.
At the center of the criticism was last especially Tsipras, who hardly gave in despite concessions by the creditor. The President of the German Institute for Economic Research, Marcel Fratzscher, but accused the donors to have too much to ask: “Although savings are long-term need, they have overwhelmed the Greek institutions and ultimately the crisis further deepened,” he said of the “Neue Osnabrücker Zeitung”. To avert even greater damage, a departure of Greece from the euro zone must now be prevented.
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