The postponement of the 6th bailout has worsened the poor finances of the Greek public sector. Therefore, the Finance Ministry is in search of a solution to the pressing problem of paying the wages and pensions to current public sector employees and pensioners respectively.
Given Deputy Finance Minister, Mr. Sachinidis’ statement a few days ago that “the country has enough cash in its hands to make it through just until October the 15th”, the Ministry and the General Accounting Office are examining a series of alternative measures in order to face an oncoming crisis that would demand a de jure moratorium. One of these measures is the issue of short-term treasury bills, which will be given to civil servants and pensioners in order to cover 50% of wages and pensions.
In fact, as highlighted by the Ministry, the holders of such bills will be able to use them in their transactions with the banks and tax authorities.
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