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Greek government pays pensions to 2.6 million people (Photo: Drriss & Marrionn)

Greece raids public sector coffers to pay pensions

Greece issued a decree on Monday (20 April) to force public bodies to provide funds to the central bank, as the government is desperate to find cash to pay pensions and public salaries next week.

"Central government entities are obliged to deposit their cash reserves and transfer their term deposit funds to their accounts at the Bank of Greece," the decree published in the Government Gazette said.

Bodies like local governments, hospitals or some state-owned firms are affected, but...

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