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These restrictions do not apply to people who have payment cards of foreign banks. This will benefit mainly foreign tourists, which are currently in Greece, in the ongoing peak season holiday, there is a great deal.
The Associated Press reports that many foreign tourists happened on Sunday in long lines for ATMs, together with the Greeks, thinking that restrictions also apply to them. You can see it was a long queue of cars in front of gas stations.
Transfers abroad only in an emergency
Reuters quoted by the Greek government representative spoke lasting eight hours after a cabinet meeting. He said that banking transactions in the network – including the payment of periodic payments – will be allowed, but limited to Greek entities. Will be prohibited transfers of capital abroad.
For emergencies, such as. Purchase of drugs abroad, will set up a special committee. Approval of banking transactions, which will provide individual licenses.
stressed that the aim of these measures is to stop mass withdrawal of deposits for appearing in a deep crisis of the Greek banking system. It is estimated that introduced capital controls may apply for several months.
also officially confirmed that the stock exchange in Athens will be closed on Monday.
The corresponding decree published in the official publication of the government. It states that the finance minister will be able to shorten or lengthen the period of closure of banks.
Obama and Merkel about Greece
US President Barack Obama and German Chancellor Angela Merkel talked yesterday about the situation in Greece – informed the White House. The leaders agreed that it was “extremely important” to try to get back on the path of reform in Greece and growth in the euro area.
Message Ciprasa
Alexis Cipras assured that deposits in banks are completely safe and urged his countrymen to remain calm.
In the message, Greek Prime Minister ordered the fault of its partners in the euro area is, that they have not agreed on Saturday to extend aid program for Athens, expiring on 30 June. – Rejection of a request of the Greek government to brief extension of the program was an unprecedented action by European standards, challenging the sovereign right of the nation to the decision – said Cipras.
The decision of the Eurogroup, in his opinion, led to the fact that the European Central Bank (ECB) He has not decided on Sunday to increase the amount of liquidity-providing emergency loans to Greek banks. This is what forced the Greek central bank to recommend downtime banks and control of capital flows – argued Cipras.
Cipras quotes Roosevelt. “You should fear only fear”
The Greek Prime Minister also informed that on Sunday reiterated his request for an extension of the aid for Athens. He explained that he had submitted this request to the President of the European Council and the 18 leaders of the euro area countries and the heads of the ECB, the European Commission and the European Parliament. – I expect an immediate response – he added.
In the evening address to the nation, Prime Minister of Greece cited a speech by US President Franklin Roosevelt-era economic crisis 30s of the twentieth century. – At this critical moment the only thing we have to fear is fear itself – Cipras said, quoting Roosevelt.
– What we need now patience. Money deposited by citizens of Greece in banks are completely safe – assured the prime minister. He added that “the same applies to wages and benefits”, which are not endangered.
The new phase of the crisis in the euro zone already react just opening up financial markets in the Far East, Asia and Australia. As informs “the Business Insider”, the euro lost 1 percent. value against the Australian dollar at the opening of the stock exchange in Sydney. The European currency also lost 2.5 percent. against the Japanese yen.
Tuesday the date of repayment of the debt?
Since the end of February, the Government of Prime Minister Alexis Ciprasa conducted negotiations with creditors – the European Commission, the International Monetary Fund (IMF) and European Central Bank (ECB) on the reforms that are a prerequisite to unlock the last tranche of aid for Greece at EUR 7.2 billion. Without that money Athens can not achieve their commitments to the IMF. The current program expires bailout for Greece on Tuesday and the same day Greece should return the next installment of IMF debt of € 1.6 billion.
For four months, unable to reach a compromise. Ciprasa government demanded easing the conditions for aid, claiming that imposed by the “troika” belt-tightening has disastrous consequences for Greek society and the economy.
The Premier announced that on July 5 will be held in the country a referendum on the proposals presented Greece by creditors. He suggested that citizens reject these proposals.
Loans to banks maintained
The European Central Bank (ECB ) decided on Sunday to maintain the current level (approx. 90 billion euro) rescue loans to Greek banks. Thanks to funding Greek banks maintain liquidity thus far, while citizens massively withdraw deposits from banks.
For four months without compromise EU – Greece
Meanwhile, in front of the Greek parliament in Sunday evening durable, less numerous than before, the demonstration against the Greek austerity program imposed by lenders. About 2 thousand. people demonstrated in favor of voting “no” in the referendum on 5 July.
Since the end of February, the Government Ciprasa negotiate with creditors – the European Commission, the International Monetary Fund (IMF) and the ECB on the reforms that are a condition for unblocking the last tranche of aid for Greece at EUR 7.2 billion. Without that money Athens can not achieve their commitments to the IMF.
For four months, unable to reach a compromise. Ciprasa government demanded easing the conditions for aid, claiming that imposed by the “troika” belt-tightening has disastrous consequences for Greek society and the economy.
What is life like in Greece in times of crisis? The answer you will find in the report “Greece. Bitter oranges” & gt; & gt;
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