Greeks rush to withdrawal cash ahead of week-long bank closures
Greece’s banks will be closed today until July 6 along with the stock market and there is to be a 60 euro daily limit on cash withdrawals.
The measures were announced as the government moved to protect its crippled financial system following the European Central bank’s decision to freeze vital funding.
The collapse of bailout talks with its creditors leaves Greece set to default on 1.6 billion euros of International Monetary Fund loans that fall due on Tuesday. Athens must also repay billions of euros to the European Central Bank.. The situation makes the prospect of Greece being forced to exit the eurozone a likely outcome.
Prime Minister Alexis Tsipras has called for calm and promised bank deposits are safe and that salaries will be paid, but even as he spoke queues were forming at petrol stations and at cash machines.
The cabinet held a crisis meeting but emerged determined to seek a public vote on what it says are humiliating terms for more funding.
“It is clear that
The measures were announced as the government moved to protect its crippled financial system following the European Central bank’s decision to freeze vital funding.
The collapse of bailout talks with its creditors leaves Greece set to default on 1.6 billion euros of International Monetary Fund loans that fall due on Tuesday. Athens must also repay billions of euros to the European Central Bank.. The situation makes the prospect of Greece being forced to exit the eurozone a likely outcome.
Prime Minister Alexis Tsipras has called for calm and promised bank deposits are safe and that salaries will be paid, but even as he spoke queues were forming at petrol stations and at cash machines.
The cabinet held a crisis meeting but emerged determined to seek a public vote on what it says are humiliating terms for more funding.
“It is clear that
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