Very hard lesson: Greece running out of cash

THE claim by Greece that the country will run out of money by the end of next week unless more credit is advanced must be a chilling prospect for the millions of Greeks dependent on their government for the very basics of life.

They are in a difficult and unenviable position.

An appeal by Athens to eurozone deputy finance ministers was rejected because reforms on which new funding hinges have yet to be agreed, much less implemented.