http://www.ft.com/cms/s/0/8ae6a44a-3009 ... z2Cb4ss8DC
According to senior EU officials, Nicosia’s coffers will run dry sometime in the next three or four weeks
“They have been procrastinating for months now, and – without even any troika people on the ground – have repeatedly claimed that they are close to achieving results,”
On Wednesday, he (Christofias) told union leaders he would make sure bonuses were paid regardless of where bailout talks stood.
“He is dreaming if he thinks the Christmas bonuses can be paid,” said a senior EU official involved in discussions. “He’ll run out of money before.”
“My family – my wife and two children – use this money for Christmas shopping and other holiday expenses,” said Ilias Petrou, a bank employee. “They can’t cut it. It’s part of our collective wage agreement.”