Greek cash can last into June; no deal with EU imminent

Athens

GREECE can scrape together enough cash to meet its payment obligations until June, eurozone and Greek officials said on Wednesday, playing down fears of an imminent default as hopes receded of a deal with its creditors to release fresh aid.

Greece has received two international bailouts worth 240 billion euros (S$347 billion) since 2010 but its economy has shrunk by some 25 per cent, unemployment has soared and a leftist-led government elected in January has refused to complete a reform programme that includes measures it says worsen the economic slump.