Greece Will Run Out of Money in Weeks: Papandreou

June 11, 2012 2:41 PM EDT Send to a Friend
Former Greek Prime Minister George Papandreou told Bloomberg TV's Sara Eisen that the Greek government will run out of money in weeks.

"I think we have a few weeks . . . and that's why it would be imperative that we first of all have a government and second we take necessary measures and show we are credible," said the former PM, adding that "This is a make-or-break period."

Greece will be holding election on Sunday, June 17th and the stakes are high. The left-wing, anti-austerity party led by Alexis Tsipras won elections in Greece in May, but he failed to form a government, forcing a second round of elections.

Greece's future in Europe hinges on the results of the elections, as does Europe’s willingness to continue funding the government there.

Papandreou hopes Greece will remain in the euro-zone and that his countrymen and other politicians will make the correct decisions.

I believe we will have a small window of time over the next few months, maybe... before we see a splintering of the euro."


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Forex, Insiders' Blog

Add Your Comment