World Economy

Greece Crisis Near?

Greece  Crisis Near?Greece  Crisis Near?

Greece’s finance minister says his country’s financial situation is “terribly urgent” and the crisis could come to a head in a couple of weeks, BBC reported. Yanis Varoufakis gave the warning after eurozone finance ministers met in Brussels to discuss the final €7.2b ($8.09b) tranche of Greece’s €240b EU/IMF bailout. Ministers said Greece had made “progress” but more work was needed. The Greek government is struggling to meet its payment obligations. Earlier, Greece began the transfer of €750m ($834m) in debt interest to the International Monetary Fund - a day ahead of a payment deadline. “The liquidity issue is a terribly urgent issue. It’s common knowledge, let’s not beat around the bush,” Varoufakis told reporters in Brussels. “From the perspective [of timing], we are talking about the next couple of weeks.” Greece has until the end of June to reach a reform deal with its international creditors. Its finances are running so low that it has had to ask public bodies for help.