The next Greek crisis: gas shortages

Natural Gas Photo - Public Domain

The Greek government’s hunger for cash has stripped the state-run gas company of most of its reserves, raising doubts about how long the country can pay for imports.

The DEPA gas company, along with all other public companies and pension funds, was ordered to place its cash reserves with the country’s central bank in April. Whether the government decides to replenish DEPA’s reserves remains unclear, but the government has already defaulted on a repayment to the International Monetary Fund and is, by all accounts, almost out of money.

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