Cash crunch time? Employment Agency, Attica governor offer reserves to BoG

About 120 million euro offers the Employment Agency (OAED) and another 80 theAttica region in order to boost Greek cash resources

After weeks of denial the Manpower Employment Agency (OAED), the state agency responsible for paying out unemployment benefits and managing a variety of employment subsidy programs in Greece, finally agreed to hand over 120 million euros of its reserves to the Bank of Greece.

At the same time, Attica Regional Governor Rena Dourou, a high-profile leftist SYRIZA cadre, also offered her district’s reserves, of around 80 million euros, to the Bank of Greece.

The develompents came as the leftist SYRIZA government is desperately seeking ways find cash in order to and meet obligations.