The Telegraph: Greece orders raid on government coffers as cash dwindles
Government issues a decree forcing all state bodies to transfer funds to the central bank.
The Greek government has ordered a mandatory transfer of cash reserves from state-owned enterprises to its central bank, in a desperate bid to gather enough cash to remain solvent.
Citing "extremely urgent and unforeseen needs”, the government issued the emergency decree which will also apply to all local government bodies.
The move comes as Athens' cash crisis degenerates with every passing day. Even the most conservative estimates calculate the government's coffers will run dry in a matter of weeks.
WNU Editor: I call this scrambling and looking for loose change in the couch cushions .... either way .... this tells me that the Greek government is in panic mode.
More News On The Greek Debt Crisis
Greece demands cash from local government as default fears grow - as it happened -- The Guardian
Tsipras to Seize Public-Sector Funds to Keep Greece Afloat -- Bloomberg
Greece asks public agencies to hand over reserve cash -- BBC
Struggling Greece Puts State Funds in Loan Basket -- NYT/AP
Greece Orders Public Entities to Store Cash in Central Bank -- WSJ
Greece is going to miss its own bailout deadline and the money is rapidly running out -- IBTimes
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