It would be a clear violation of the IMF's Articles of Association, according to which an installment payment can not be deferred. A breach of this rule has not yet occurred in the history of the IMF.
Already on 15 March, the Greek Prime Minister had Alexis Tsipras Chancellor Angela Merkel warned by letter, that there might be defaults, if his country did not get short-term grants. "We did not get any more euro since August, there is no other country in the world to settle his debts only from its own resources, without taking loans," the Greek Interior Minister Nikos Voutzis said now SPIEGEL.
"If no money is flowing to 9 April, we will first determine the salaries, pensions pay here in Greece and then ask our partners abroad to achieve consensus and understanding that we will pay 450 million euros to the IMF not on time," Voutzis said. The shift should "happen in agreement, so no default occurs."
"The money last until mid-April," said the SYRIZA -Politiker. The first tranche of just over seven billion euros, which are still enshrined in the current extended pilot program, but could not earlier than the end of May Flow Rates Voutzis - if the reforms of the creditors accepted and were launched in Athens. Therefore, the government is trying currently to get money from other pots.
"We want to continue the 1.2 billion euros from the European rescue fund EFSF back, we have inadvertently transferred," Voutzis told SPIEGEL. "We want the 1.9 billion euros from the bank rescue fund to be held back for months." The money comes from the profits of the bond purchase program SMP the European Central Bank (ECB). "And then Greece would have liked at least a minimum participation of the funds from the QE program of Mario Draghi . "
The threat to defer the payment to the IMF in doubt, comes almost simultaneously with the Greek orientation to the east . In the coming week Tsipras will travel to Moscow at the beginning of this week, the Environmental and Energy Minister Panagiotis Lafazanis there. In the past week traveled Foreign Minister Nikos Kotzias and Vice-Premier Giannis Dragasakis on a visit to China.
Short-term money problems will not solve the Russians or the Chinese, said Interior Minister Voutzis with reference to the 9th of April. Collaboration at the economic level but will interest if it could go to the negotiations of a third bailout package with the creditors in the summer.
As of June or July, Russia and China are "complementary to an agreement with the European partners" fixed part of a new Greek "Plan A are" as Voutzis calls him. This plan close "with a debt reduction, the end of the austerity measures and a new agreement with a growth clause".
"We want Russia is helping us rebuild the Greek economy. Both trade agreements as well as through the purchase of government bonds in the primary bond market. " The fact that Russia buys government bonds directly from the Greek State to the country's creditworthiness rise, credit spreads and spreads will automatically fall. Specifically, it should also go state-wide Russian investment projects, especially in the field of energy and transport.
In summary: On April 9, Greece must repay the IMF credit tranche of 450 million euros. The Greek Minister of the Interior is now threatening to postpone the transfer, if no money is flowing from the rescue program to Athens. This should be done "in agreement" because the shift would otherwise be regarded as a state bankruptcy.