bank holiday
Greek Government Assures Foreign Tourists Will be Able to Withdraw Cash
The Greek government assured that foreign tourists staying in the country will be able to withdraw money and make transactions if in possession of a credit card issued in their home country.
According to the information, anyone issued with a credit card in a foreign country will not be affected by the newly imposed measures, which limit bank withdrawals, daily Kathimerini reports.
Hibernation: Greek economy numbed by cap controls (video)
On Monday morning Greeks found their savings blocked, banks closed and the Athens Stock Market also not open after a dramatic 48 hours of sensational developments in Greece’s battles with creditors. Prime Minister Alexis Tsipras’ announcement for a referendum on July 5 set people running to ATMs prompting measures to be taken.
Closed banks and capital controls until referendum
In wake of MPs approving plebiscite, gov't agrees to emergency measures after ECB decides not to lift limit on liquidity
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Greece Introduces Capital Controls, Banks to Close from Monday
Greek Prime Minister Alexis Tsipras announced on Sunday a bank holiday and the introduction of capital controls in the country.
Greek banks will remain closed from Monday in order to avert a financial collapse after the ECB froze emergency loans to the country's lenders.
Greek PM announces bank holiday, capital controls
Prime Minister Alexis Tsipras on Sunday announced a bank holiday and capital controls in Greece after Greeks responded to his surprise call for a referendum on bailout terms by pulling money out of banks.
Tsipras blamed European partners and the European Central Bank for forcing Greece?s hand but said that would not halt the plan to hold a referendum next Sunday.
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Breaking: Capital Controls taken – Banks closed for one week!
The now embattled Tsipras government has decided to declare a bank holiday … all of next week!
Under that decision, the next open day for banks will be Monday, July 6, a day after an unprecedented call for a referendum.
Desperate Greeks in frantic search for cash machines
Greeks raced Sunday to find cash machines in an increasingly anxious run on the banks, as speculation mounted of capital controls and a possible bank holiday being declared.
"I don't know what happens -- it's crazy," a Greek woman, Voula, told AFP while on the lookout for a working cashpoint in Athens.
Almost 1 bln euros left Greek bank accounts last Friday
Greek bank deposit outflows surged about fourfold over daily levels to nearly 1 billion euros last Friday on fears of capital controls, two bankers told Reuters on Wednesday, underscoring the increasingly precarious state of the country?s banking system.
Slow start to the week for local stocks
Much as National Bank buoyed the banks index and the closing auctions contained stock losses, the bourse benchmark spent the entire session in the red on Monday, while turnover was the lowest in the last 45 sessions, partly due to the bank holiday in the UK. However, it also reflected investors reluctance to take any further risks.
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