Tuesday 16 June 2015

Emergency plan for Greece


The European Union has decided to impose "emergency plan" to save Greece from bankruptcy if the country by the end of this week does not reach agreement with creditors, reports Süddeutsche Zeitung.
Greeks will receive funding under conditions similar to those for Cyprus during the financial crisis in 2013. I.e.  the country will have to give up entirely of financial independence.
Control will be inputted  on capital movements and restructuring of the financial system will be imposed.
If negotiations reach a deadlock, the plan foresees from next week Greek banks to remain closed for several days in order to be prepared for the control of the transactions.
It is possible the amounts that can be withdrawn from ATMs to be limited, as well as the size of electronic payments.
Yesterday was placed a record in amounts withdrawan from Greek banks. Only for а single day were closed deposits for 600 million euros. Comparing to Friday the withdrawn amounts were 2.5 times more.


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