Greece Will Run Out of Money in Weeks: Papandreou
Tweet 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."
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
"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."
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Crash in American Electric Power (AEP) & NextEra Energy (NEE) Adds to Jitters
- 3D-Printer Saves Dying Baby (DDD) (SSYS) (XONE)
- Angie's List (ANGI) CEO Oesterle Defends Against Citron Article; Says No Scheme in Place
Create E-mail Alert Related Categories
Forex, Insiders' Blog
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
