Greece To Close Banks Tomorrow !

[tonyav]

Greece to shut banks and stock exchange tomorrow.
http://www.msn.com/en-gb/news/world/greece-to-shut-banks-stock-exchange-on-monday-as-crisis-deepens/ar-AAcfzB1

[Tilly2]

I'm glad I don't live in Athens. I have no cash in the house.

[tonyav]

I doubt if they will have ( after tomorrow ) Yilly.

[jourdain2]

Makes sense. Apparantly most cash machines in Athens are empty. A timely bank holiday is in order. I gather that people have been withdrawing cash all day.

[jno]

not just tomorrow, it looks like being for a week or more, till after the referendum

http://www.bbc.co.uk/news/world-europe-33305019

[Broseph]

A horrible time for the poor Greek people especially with all the surge in burglaries which will no doubt accompany this problem.

[EDDIE51]

I'm just waiting for the first reports of pickpockets and robbers stealing the cash that the tourists will be forced to carry. They are going to know that they are all loaded with cash not 'safe' cards.

[TheChair]

I think you are confusing Greece with the UK, Eddie51

[douglas9401]

What's a Greek urn?

Very little, apparently

[jno]

methyl, people may stop accepting payments by card. They need cash; waiting for Visa to give them the money may not be an option.

[ichkeria]

You can't pay by card in many Greek supermarkets anyway

[youngmafbog]

More than half of package hols are 'all inclusive' so the problem is not quite as bad and there wont be so many tourists carrying hordes of cash.

[New Judge]

“Surely if you are on holiday in Greece and do not have a Greece Bank Account. you just "pay by card" …”

I don’t know about the mainland but on most of the Greek islands very few outlets accept anything other than cash. Which is probably part of their malaise because I doubt that 50% of their takings goes “through the books” and is thus subject to tax.

“A horrible time for the poor Greek people…”

The “poor Greek people” firstly elected a government that took them into the single currency under false pretences by falsifying (with the connivance of some of the banks) their true fiscal position. Also they were given too many euros for their Drachmas (whereas in fact they should not have been allowed to join the single currency at all).

Then they elected a government which oversaw public and personal borrowing at stupendous levels in a currency that they could not afford and which their economy did not support. Most of the money borrowed by the government was wasted.

Finally they elected a government whose manifesto openly declared a plan to do what they have just done – to stick two fingers up to the EU and their creditors, refuse to make any meaningful reforms whilst still insisting on vast sums of money being delivered from other Eurozone nations each month. All through this they lived with a system that was riddled with corruption, employed a bloated State workforce and which left uncollected vast sums of the proper taxes due.

Whilst I accept that none of this is the fault of any individual Greek, collectively along with their government they are responsible for this current state of affairs.

[Svejk]

It's alright now, Diane Abbott has sorted it. ;-)
http://www.breitbart.com/london/2015/06/29/diane-abbott-mocked-on-twitter-for-letter-of-solidarity-to-cancel-greek-debt/

[mushroom25]

according to reports on twitter, martin schulz, european parliament president, is urging the greek people to vote "yes" on sunday.

which kinda implies the vote is being afforded a legitimacy that it wasn't being extended over the weekend. which implies that the banks need to wait until after sunday, and that tomorrow's deadline means jack.

[Khandro]

How on earth can a reliable referendum be put in place by the coming weekend? Seeing how the country is already mired in corrupt practices, the 'result' is bound to be whatever the government wants it to be.

[tonyav]

Stating the obvious I know but it ain't looking good.
http://www.msn.com/en-gb/news/world/these-heartbreaking-pictures-of-elderly-people-lining-up-outside-banks-sum-up-the-chaos-in-greece-right-now/ar-AAchKlW

[EDDIE51]

What will happen for pensioners who do not have bank cards? Many old people here just go to the post office and draw their pensions as cash each week. I don't suppose Greece is different.( probably worse!)