Greek bailout expiry dates loom

Greece’s Syriza-led coalition with the nationalist Independent Greeks needs up to €22 billion for its funding needs in 2015 after public and corporate tax revenues collapsed in the last three months of 2014
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1 January: Prime minister Alexis Tsipras takes office, appoints cabinet

Feb 12: Tsipras meets with other EU heads of state at leaders’ summit in Brussels

3 Feb 16: Eurozone finance ministers meet amid Greek pressure for debt relief

4 Feb 28: Extension to €240bn bailout expires at midnight. So-called troika of European Commission, ECB and IMF could block final €7.2bn installment. By end of February, Greece has to repay further €2bn to creditors

5 Mar 1: Repayment of €4.3bn to IMF falls due. Syriza predicts that cash
reserves will last until end of March. Athens must collect €4-5bn each month from taxes – so far, tax revenue is 40-50% below target

6 May 11: Eurozone finance ministers’ meeting

Social spending: Syriza minister Giorgos Stathakis says party will implement $2bn humanitarian programme to provide free food, electricity and healthcare for poorest Greeks – 2.5 million people. Remaining €10bn of social spending programme likely to be put on hold

Jun 25: EU leaders’ summit. Athens must repay €1.5bn to IMF, another €1.5bn is due in September

8 Jul 20: Greece must repay €3.5bn of bonds issued by ECB and other eurozone national central banks. In July, Athens needs €9.6bn to redeem 10-year government bonds with 3.7% yield

9 Aug 20: Repayment of €3.2bn to ECB and other central banks. August sees
maturity of €8bn of 5-year bonds with 6.1% yield
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Sources: Financial Times, Greek Reporter

Pictures: Associated Press, YouTube

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