ATHENS - Former Greek prime minister Lucas Papademos warned Greecemay run out of money by the end of June if international bailoutfunds are cut off following next month's election, a newspaperreported on Sunday. 'From late June onwards, the ability of the government to fund itsobligations fully depends on the approval of the subsequentinstallments of loans from the EFSF and the IMF,' To Vima newspaperquoted Mr Papademos as saying in a leaked memo. 'The available funds in the Greek government will be reducedgradually from about 3.8 billion euros on May 11 to about 700million euros (S$1.1 billion) on June 18 and from June 20 willenter negative territory at the level of around one billion euros.' Centre-left To Vima said Mr Papademos made the warning in a memo toPresident Carolos Papoulias dated May 11 that was then circulatedto party leaders as they tried to form a coalition after aninconclusive May 6 vote. Greece in 2010 committed itself to a reform programme in return forhundreds of billions of euros in bailout funds from the theEuropean Union bailout fund EFSF and the International MonetaryFund. On May 6 voters weary with salary cuts and other austerity measureshanded second place to radical left-wing party Syriza, which hasthreatened to renege on the bailout accords. If Greece broke the terms of the deal and forfeited its bailoutfunds, it would likely default on its debts and may leave the eurozone. Ahead of a new election on June 17, Syriza has led at times in theopinion polls, but a series of polls published on Sunday indicatedconservative party New Democracy was favourite to win. The new surveys by five separate polling groups predict a NewDemocracy victory ranging between 23.3 per cent and 25.8 per cent,a result that would still require the party to seek additionalallies to form a viable government. Syriza polled in second place ahead of the socialist former rulingparty Pasok, which like New Democracy defends the bailoutagreement. New Democracy, part of the previous ruling coalition that signed onto the bailout deal, has said it will seek to renegotiate parts ofthe package but not scrap it completely. The e-commerce company in China offers quality products such as butterfly wall stickers , China cars wall stickers, and more. For more , please visit living room wall stickers today!
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