Posted by ks55 > 2015-06-05 15:52 | Report Abuse

Greece has told the International Monetary Fund (IMF) it will delay a key debt payment that was due on Friday and bundle all four of its June payments together and pay them at the end of the month.
The announcement came as Alexis Tsipras, the Greek prime minister, also demanded changes to tough terms from the country's international creditors.
The IMF said on Thursday that Greece had informed the global lender that it planned to bundle four payments due in June - including the 300 million euros ($338m) payable on Friday - into a single 1.6 billion euro ($1.8bn) lump sum, which is now due on June 30.
"The Greek authorities have informed the fund today that they plan to bundle the country's four June payments into one, which is now due on June 30," Gerry Rice, IMF spokesperson, said, citing rules allowing debtor countries to regroup "multiple principal payments falling due in a calendar month".
The move comes at a critical time for Greece and its IMF, European Union and European Central Bank creditors, as they push for a breakthrough in four-month negotiations to unlock 7.2 billion euros ($8.12bn) in rescue funds Greece desperately needs to honour debt payments.




If you owe bank and payment due on 5 Jun, can you just tell the bank I want to bundle all my loan repayments (house, car, credit card, personal loan, study loan etc) to the end of the month? Payment due but not paid constitute default. Default on 5 Jun should cross default and all loan will be become immediately due.

So, this is actually happening in European market right now. How Malaysian market going to be affected, in the midst of 1 MDB scandal.

###Setelah 2 jam menunggu.. Najib Razak membuat keputusan untuk tidak hadir dan membatalkan program "Nothing to Hide"... Kini Tun Mahathir telah memulakan ucapan...###