Greek municipalities’ union delays cash transfer to central bank

Bank of Greece

The Central Union of Municipalities and Communities of Greece will not transfer its funds to the Bank of Greece until a list of its demands is met – narrowing the chances of the Greek government seizing enough cash to fulfil its obligations to the International Monetary Fund.

At a meeting on April 27, the Greek municipal union, which represents the lowest level of local authorities in the country, decided to not comply with the decree issued earlier this month forcing local authorities to transf

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