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"Pots of Money" will be found for Greece to pay IMF

29 May 15 | Nouriel Roubini
Nouriel Roubini

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Economist Nouriel Roubini said he expects “pots of money” to be found to allow Greece to meet its payment commitments to the International Monetary Fund.

 

“Radical decisions like capital controls, like deposit freezes, like IOUs that have a lot of collateral damage, not just financially but also economic, can be prevented,” chairman of Roubini Global Economics, said in an interview in Dresden, Germany, where he’s attending a meeting of G-7 finance chiefs.

Greece is scheduled on June 5 to make the first of about €1,6 billion ($1,74 billion) in IMF payments coming due in the next three weeks.

Talks between Greek officials and the country’s international creditors over unlocking aid remain stalled.

If Greece fails to meet its payments, “everybody realizes that’s the beginning of a Greek accident that has lots of other collateral damage, not just for Greece but potentially contagion also in financial markets,” Roubini said in the Bloomberg Television interview.

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