Greek banks are closed for a week, to stop the money leak

Greek government
still decided to take a bank holiday
and announced its decision to suspend
July 6 the work of all banks. The central bank also introduces
on the movement of capital control measures,
to stop the leakage of deposits and
the flight of money abroad. Now the Greeks can withdraw from an ATM not more than 60 euros
per day, they are also prohibited any transfers
abroad. Restrictions, according to
authorities do not concern foreign
tourists.

Recall that Greece
wants to hold a referendum on July 5, where
citizens should speak out, take
the conditions of the creditors or not. After
Tsipras statements on referendum
Saturday panic started in the country,
depositors en masse to withdraw money from
cards, emptying the ATM. central bank
He promised to fill your terminal, but
the evening could not cope with it.

Now the financial
system of the country in the face of the full
uncertainty. The ECB yesterday kept
the volume of lending to Greek banks
at the same level, but in the coming days
already it can do to stop supporting,
and then in the banking system will remain
funds. The only solution to such
situation will print its own
currency, writes The Wall Street Journal. but authorities
it will be very difficult to restore trust
banks and avoid a run on deposits,
when the banks open.

Tsipras in TV
appeal said that closure of the Greek
Banks blame unyielding creditors
who refused to extend the program
aid to Greece after June 30. Prime Minister
urged citizens to "patience" and
"in cold blood", Bloomberg writes.

Last Friday
Greek government rejected
offer international lenders
to extend the validity period of the program
financial aid until the end of November and
providing 15.5 billion euros to Athens. By
According to authorities, the proposed amount
is insufficient to meet the
the country's financing needs.
But in the meantime the maturity of debts to the IMF
expire tomorrow, and will be able to be prevented
the country defaulted on its foreign debt - yet
unknown.