Greece Buys Gold Sovereigns as New Greek Drachmas Unveiled

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by Mark O’Byrne, via Max


– Greece warns may default on IMF loan next week

– Greek bank runs continue and deposits flee

– German Bundestag votes for bailout extension

– Syriza agree to a bailout extension of four months, in return for concessions yet to be approved by the EU

– Questions over Syriza negotiating a weak deal despite it’s strong position

– Greece and EU buying time to arrange orderly “Grexit”?

– Greece has printing presses poised to print newly designed Greek Drachmas

– Greeks buying gold bullion

The Euro Working Group discussed Greece’s imminent funding problems yesterday amid mounting concern about how the country will meet its massive obligations.

Minister of State for Coordinating Government Operations Alekos Flambouraris suggested yesterday that Greece might delay payment to the IMF if it cannot find the necessary money.
Greece is due to pay the IMF 1.6 billion euros next month but the Greek Minister said that Athens might ask to delay this payment for two months.

Read More @ Max

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