Tuesday, May 26, 2020

Greece makes last minute bid to pay IMF…fears grip EU and World Financial Markets

As fears of Greek default grip EU and world markets, the Greek government has requested a new bailout deal from the Eurozone, just hours before it must repay €1.6bn (£1.1bn) to the International Monetary Fund (IMF). Greece now asks for a new two-year €29.1bn aid deal from a bailout mechanism for eurozone countries.

Eurozone finance ministers will discuss the Greek offer in a teleconference in few hours from now. Failing to make the IMF payment, Greece could risk leaving the euro.

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