Greece Is “Running Out of Cash”

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By Trey Thoelcke Published
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Greece cannot seem to work its way out of the financial news by settling on austerity programs that would trigger aid from the International Monetary Fund and European Union. Internal battles among political parties have held up progress.

Worse, the Greek economy continues to implode as a six-year recession turns into a depression. Analysts now expect debt-to-GDP to reach nearly 200% in 2014. If the country’s neighbors believe it is essential to keep Greece in the European Union, they will need to accept that its deficit is a moving target and that current aid is no more than a stop gap.

According to CNBC, Thanos Vamvakidis, head of European G10 currency strategy at Bank of America Merrill Lynch said: “Greece is running out of cash. The current strategy is really not working and there is substantial political risk.”

Douglas A. McIntyre

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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