Greek Pensioners To Fund Ukraine’s Government: Syriza Will Tap Pension Funds To Pay IMF

Tuesday, March 3, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
03/03/2015

Just yesterday we warned that, among the ‘solutions’ the Greek government was exploring in its scramble for cash to pay back The IMF loan, was ‘borrowing’ from the nation’s pension funds. Today we get the sad confirmation that indeed Greece will raid cash reserves in pension funds and other public sector entities to cover its funding needs. As Reuters reports, Greece will use short-term repo transactions to transfer the cash, but one government official said they could not be used to repay the IMF. As the radical left-wing government takes from the implictly wealthier Greeks (pension funders), it is giving free electricity, a rent allowance, and food stamps to the poor.

The Rest…HERE

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