Greek PM worries about liquidity, to meet with Merkel next week


Greek Prime Minister Antonis Samaras said that without the next tranche from the EU, Greece will be broke by end of November.


Andreas Rentz

Greek Prime Minister Antonis Samaras told a German magazine Friday that Greece would be broke by late November without European aid.

His words come less than a week before German Chancellor Angela Merkel will visit Greece for the first time since the beginning of the economic crisis.

Merkel's visit will likely spur demonstrations, reported the Financial Times, as many Greeks believe that Germany has been behind a push for the austerity policies that have seen massive wage cuts to Greek workers.

Samaras was blunt about his country's problems and how little time there was left to save it.

He likened the current state of Greece to the the Weimar Republic in 1920s Germany - a period characterized by political chaos and heavy inflation eventually leading to catastrophic Nazi rule.

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"The key is liquidity. That is why the next credit tranche is so important for us," Samaras told the business daily Handelsblatt, according to Kathermerini.

The magazine then asked how long Greece would last without the next tranche of the EU's bail out fund.

"Until the end of November. Then the cash box is empty."

Merkel's visit may be an effort to show European solidarity after speculation that Greece may be forced to exit the euro.

Merkel will meet other Greek parties leaders except Alex Tsipras, leader of the radical leftwing Syriza party, which is now the main opposition, reported Reuters.

Both his party and the communist party said they would hold rallies during her visit to protest what they feel is "barbarous" economic measures.