SYRIZA MP: No June deal, no money for IMF

Moody’s piles on the scare-monger with a forecast of … capital controls in the country

Payments totalling roughly 1.5 billion euros owed by Greece to the IMF are due in June, beginning with 300 million on June 5, with a top SYRIZA lawmaker on Wednesday warning that “if there is no deal by then that will address the current funding problem, they won’t get any money.”
The message was clear, namely, that unless a deal is sealed to release the last batch of cash from the second bailout package (7.2 bln euros), then the radical leftist government will not be able to meet its international obligations next month.
The statement was made by Nikos Filis, a SYRIZA MP that was previously a senior editor at the party’s low-circulation party newspaper, Avgi.
filis

Moody’s

In a related and utterly ominous development, Moody’s on Wednesday cited what it called a “high likelihood” of capital controls being introduced in Greece, beginning with a deposit freeze at Greek banks.
CNBC reported that Moody’s Investor Service downgraded its outlook for the Greek banking system to negative from stable, stating that “the significant deterioration in banks’ funding and liquidity since December 2014, with deposit outflows estimated at more than 30 billion euros ($33.3 billion), or 18 percent of total deposits, over the past five months.”