Tags: Greece | solvent | economy | europe

Greece's Caretaker Government Vows to Do All Needed to Keep Solvent

Tuesday, 29 May 2012 10:31 AM

Greece's caretaker government says it will do all it can to ensure the loan-dependent country does not run out of cash amid the protracted political turmoil ahead of elections in June.

Government spokesman Dimitris Tsiodras says that the government will do "anything necessary" to ensure that state can continue making payments and meeting its obligations. He added that finance ministry officials are focusing on boosting flagging tax revenues.

A memo by former prime minister Lucas Papademos, leaked to Sunday's To Vima newspaper, said Greece risked running out of cash just after the election.

Tsiodras did not comment on the report.

Debt-crippled Greece relies on foreign rescue loans, granted in exchange for harsh austerity measures. Anti-austerity parties are polling high ahead of the elections, and have pledged to scrap bailout commitments.

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