Greek PM: Greece Will Go Bust Next Month Without Bailout

Foreign lenders must approve austerity measures for the rescue package to be granted


Greece will run out of money as early as the end of November, if it doesn't receive the scheduled bailout plan payment, according to the PM. Budget cuts—a precondition for bailout – are starting to severely hurt the economy.

The officials from the European Commission, International Monetary Fund and European Central Bank- the so-called "troika" – are currently in Greece to check the country's progress in fulfilling the terms for receiving the aid.

If their report doesn't pave the way for the payment of the next €31bln ($40bln) tranche of the country's bailout, Greece could be forced to default on its debts and perhaps leave the euro.