Topic | Greek Debt Crisis
Location | Greece
Greek PM Alexis Tsipras has addressed the nation asking them to remain calm after talks between European creditors broke down and the European Central Bank (ECB) said it would not increase emergency funding to Greece.
Mr Tsipras has declared that Greek depositors money is safe but this hasn't stopped people queuing up at the multitude of ATM's scattered across the country.
The Bank of Greece has been making huge efforts to keep the ATM's stocked but due to capital controls now put in place a maximum of 60 Euros can be withdrawn in any one day from a single account. There has also been a block put on overseas transactions unless for vital pre-approved commercial transactions.
Greece is entering uncharted territory and it is likely banks will remain closed until July 7th , two days after the proposed Greek referendum.
The Greek pm said that wages , pensions and bank deposits were safe and guaranteed.
Stocking on on basic supplies like water , tinned food , fuel and cash is the natural response in times of uncertainty like this. Over the past 6 months many Greeks had been steadily withdrawing their deposits but obviously many never saw this eventuality being possible.
More to follow as the story unravels during the next few days.
Weekend of turmoil
“Unfortunately this could probably be our worst day in two or three years, you’d probably be going back to 2011 or 2012,” he said.
Tweet #PocketInfo Pocketinfo , Greece , Puerto Rico June 2015