There seemed to be some confusion last night as to the point I was making about the new tranche of money being paid to Greece. I’m not surprised, because virtually none of scheduled numbers or dates released previously by the Troika tally with what happened yesterday. Bur officially, it seems to me like this:
1. Greece will not get any of this payment for at least two weeks. Thus the country will be getting €9.2bn in “Q2″, where it is supposed to get only 4.7bn. There was a 5bn funding gap in that quarter: so with a little Greek surplus (1.3bn) that would be about right to avoid a May 21st default.
2. I must assume that Greece already received its Q1 amount, otherwise we would’ve heard the squealing of fat Evangelos at being reduced from three to two lunches a day. But if they didn’t get it, then (a) how did they pay the Q1 debt and (b) why is this new figure neither 4.9 nor 4.2bn?
* As Greece can just about scramble together enough to be still alive on May 22nd, the Sprouts can go into the euro-elections lying through their teeth about Greece being “on target and out of trouble”.
But that still leaves another shortfall and thus default looming on 20th August 2014 – see my original post of January.
If any Greek friends/Sloggers are reading this and they think I’m wrong, do please say. And if your or our MSMs don’t pick up this story, can somebody please nudge them awake, because I’m busy on another story today? Cheers.
US Embassy sources in Athens confirmed to The Slog tonight that a new sum around €8-8.5bnwill be handed over to the Greek Government in the next five weeks to enable it to avoid the May 21st default exclusively predicted here on January 17th this year.
I have no more detail beyond this, and so will stick to these four pertinent observations:
1. Cyprus was raped by the EC last year because of a debt sum just €3.5bn larger than this one.
2. Cyprus got into that situation by showing loyalty to its Greek compatriots being financially repressed by the Troika.
3. The news comes just two months after Antonis Samaras told the Greek people that Greece would “be freed from the EU aid program and begin its recovery in 2014″.