Due to my odd hours, I am seeing this report on ekathimerini a bit late. Via Rob Parenteau:
According to figures released yesterday by the Bank of Greece, in January the net cash result of the central administration posted a deficit of 217 million euros, against a surplus of 603 million in January 2014. Budget revenues reached 3.1 billion euros, against 4.4 billion in January 2014, while expenditure dropped to 3.2 billion from 3.6 billion last year.
Given these figures, the Finance Ministry estimates that cash reserves will run out next Tuesday. It has the option, however, of using the reserves of general government entities kept in commercial banks in order to cover short-term needs next week. However, the problem that cannot be addressed as things stand concerns needs for the first week of March.
Unless something changes drastically to the country’s funding, Greece will not be able to fulfill all of its March obligations.
As Parenteau points out, this would be the juncture for Greece to resort to tax anticipation notes to extend its financial runway.