We’re going to run out of money next month, warns Greek leader

Saturday, October 6, 2012
By Paul Martin


Greece’s Prime Minister warned yesterday that his country’s coffers would run dry by November unless international lenders disbursed a vital €31.5bn loan instalment soon.

Invoking a comparison with the Weimar Republic in Germany before the Second World War, Antonis Samaras also warned of “chaos” in Greece if his coalition government failed and democracy collapsed.

“The government is giving a fight on all sides for the credibility and salvation of this country so the people’s sacrifices don’t go to waste,” Mr Samaras told reporters.

Athens and its debt inspectors are still trying to hash out new spending cuts to help speed up the release of the next round of bailout funds. Amid this uncertainty, Mr Samaras highlighted the consequences of a Greek exit from the euro, warning it would be “a total disaster” and could prove “very destabilising” for Europe.

Once one member country left, the international markets would probably target the next “weakest link”. This would prove “painful for everybody and could prove fatal for many”, he said.

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