NEWS

No deal to pay off crippling Piraeus debt

The Municipality of Piraeus could be forced to shut down unless it finds 29 million euros by the end of the month to pay off past debts, Mayor Panayiotis Fassoulas has warned. Fassoulas met on Friday with Interior Minister Prokopis Pavlopoulos in an effort to find a solution to the municipality’s debt problem but the government is unwilling to give Piraeus an emergency loan to help it pay off the money it owes. The mayor claims that the municipality is in debt to the tune of 179 million euros. Fassoulas said after his meeting with Pavlopoulos that there was no way the municipality could keep operating unless it received a cash injection. The government said it would re-examine the situation toward the end of the month.