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News Link • European Union

Greece Running Out of Cash; Government Under Threat

•, By: Catherine Boyle
 Greece’s downward spiral has come to the top of the euro zone agenda again, with economists and analysts warning that it is closer than ever to running out of cash, and that the survival of a coalition government brought in just five months ago is under threat.

 “Greece is running out of cash.The current strategy is really not working and there is substantial political risk,” Thanos Vamvakidis, head of European G10 currency strategy at Bank of America Merrill Lynch, told CNBC Thursday.

 Greece’s economy has disappointed on every key metric – growth, unemployment and debt reduction - since the initial bailout terms were agreed. Its debt-to-GDP ratio, already the highest in the euro zone, will reach 189 percent, rather than 179 percent, Finance Minister Yannis Stournaras announced Wednesday.


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