Dimitris Mardas

Alt. Finance Minister Dimitris Mardas told private MEGA TV on Wednesday that there is a deficit of 350-400 mln euros that needs to be covered by April 27 so that the government can meet its obligations and pay salaries and pensions.

"We have a 350- to 400-mln-euro revenue deficit that needs to be covered by the end of the month in order to meet the country's needs," he said.

Alternate Finance Minister Dimitris Mardas was present at the emergency meeting called by the Central Union of Municipalities of Greece (KEDE) following a government decree for public bodies to transfer funds to the Bank of Greece (BoG). Mardas explained that the government hopes in this way to cover a "gap" in its finances worth 552 mln euros.

Mayors insisted on Tuesday that they would not allow their municipalities? cash reserves to be transferred to the Bank of Greece, as the government wants, at least until they have held a meeting with Prime Minister Alexis Tsipras.

The alternate finance minister on Tuesday referred to "an urgent need that forces us to collect money", in comments to board members of a union representing the country's municipalities.

 Tax revenue shortfall comes on top of increase in taxpayer debts

By Prokopis Hatzinikolaou & Sotiris Nikas

The Finance Ministry is on a mission to find resources with which to meet its upcoming obligations ? its latest proposal being the compulsory submission of state entities? cash reserves to the Bank of Greece ? a measure that the prime minister?s office has not yet approved.

Chinese investors bought 100 million euros worth of short-term Greek Treasury bills in an auction on Wednesday, Greece's deputy finance minister said, in a boost for the cash-strapped country.

The deputy minister, Dimitris Mardas, did not give any further details.

As Greece?s cash reserves continue to dwindle, European officials indicated Tuesday that a lack of progress in negotiations between the Greek government and the country?s creditors meant it was unlikely a deal could be reached in time for a Eurogroup summit scheduled for April 24.

German Economy Minister and Vice-Chancellor Sigmar Gabriel  wasn't too impressed with a calculation of German war reparations tallied by the Greek government, calling the demand a less than tactful "stupid".

Greece's defense minister has said the country has obtained "stunning evidence" to support its massive claims for World War II reparations from Germany.