World Week Ahead: Eyes on Greece after Tsipras’s delay tactics

Sun, 07 Jun 2015

June 8 (BusinessDesk) - All eyes will be on Greece this week after Prime Minister Alexis Tsipras last week invoked an obscure International Monetary Fund rule from the 1970s to defer payment of 301 million euros of debt. Last Thursday – a day before the payment had been due, Greece told the IMF it planned to bundle all four of its June debt payments into one, to be paid on June 30. It was only the second time the rule had been used after Zambia delayed a payment in the 1980s. Greece has no more prospect of meeting a jumbo payment at the e...

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