Athens in search of quick deal with creditors to avert June default

Written by on June 2, 2015 in Europe - Comments Off on Athens in search of quick deal with creditors to avert June default

Greek government sources suggest an interim deal will be agreed imminently that would secure Athens meets its heavy debt repayment schedule in the coming months. A longer-term agreement will then be decided in the fall.

A 300 million euro debt repayment, the first of four this month, to the IMF due on June 5 is set to be met and default will be averted, the same sources point out. This gives a bit more time for negotiations to continue this week and for a deal between the Greek government and the country’s creditors to be reached eventually.

The next important deadline in terms of debt repayments, besides June 5, is June 12 when another 347 million euro will have to be paid to the IMF, followed by a payment of 578 million euro on June 16, and 347 million euro on June 19.

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