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Greece May Run out of Cash in March

As Greeks pull money from banks and stop paying taxes, the nation may face a cash crunch in a matter of weeks.

By Vassilis Karamanis and Nikos Chrysoloras, Bloomberg | Updated on February 04, 2015

As Greece’s creditors line up to oppose the country’s demand for a debt restructuring, Prime Minister Alexis Tsipras’s refusal to accept more bailout loans may result in a cash crunch as early as next month, two people familiar with the country’s financial position said.

Unless the 15 billion-euro (US$17 billion) limit on short-term borrowing set by Greece’s troika of official creditors is raised, the government may run out of cash on Feb. 25, said one of the people, who asked not to be named because the figures are confidential. Three weeks ago, international officials reckoned Greece could hang on until mid-year.

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