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Athens admits it cannot pay its debt as European leaders warn the Greek people to accept austerity or face a eurozone exit.
06:05, UK,Tuesday 30 June 2015
Play video "Greek Debt Crisis ... What Crisis?"
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Prime Minister Alexis Tsipras admitted his country was unlikely to meet the debt.
"How is it possible the creditors are waiting for the IMF payment while our banks are being suffocated?" he said in an interview on Greek TV.
Athens withdrew from negotiations over a new EU bailout package at the weekend after it was made clear it would have to impose austerity measures in exchange for cash.
Some 17,000 Greeks took to the streets to protest against bailout proposals
Mr Tsipras instead arranged a referendum for Sunday - and is urging voters to say no to the bailout proposal.
European leaders have warned this would lead to Greece leaving the monetary union.
Play video "Brits In Greece 'Should Take Cash'"
17,000 people took the streets in Athens and Thessaloniki to protest against the latest bailout proposals.
As the financial crisis deepens, banks and the country's stock exchange are remaining shut until 7 July, and the daily limit on withdrawals from cash machines has been cut to just €60.
Concerned British tourists who are heading to Greece have been told the ATM limits will not apply to foreign debit cards - but in practice, some cash machines may not be able to tell the difference.
The Association of British Travel Agents is advising visitors to take all of the euros they may need in cash, but says credit and debit card transactions in shops and restaurants will be unaffected.
Sky's Siobhan Robbins, in Corfu, said credit cards were still being accepted though businesses were hungry for cash.
Taverna owner, Dimitris Kourkoulis, claimed his business was benefiting from tourists bringing extra cash, saying: "The fact that people are bringing more cash with them, they have more cash to spend and even our tips have gone up by 40% this month."
Financial markets remained in the doldrums on Tuesday following sharp falls on European stock markets the previous day.
Investors remain nervous on the ramifications of a Greek debt default, with the euro weakening further against the pound and dollar.
Greece Set To Default On €1.5bn Repayment
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Haven't such much about this on the forum , perhaps no one cares any more
06:05, UK,Tuesday 30 June 2015
Play video "Greek Debt Crisis ... What Crisis?"
Share on Twitter
- Share by email
Prime Minister Alexis Tsipras admitted his country was unlikely to meet the debt.
"How is it possible the creditors are waiting for the IMF payment while our banks are being suffocated?" he said in an interview on Greek TV.
Athens withdrew from negotiations over a new EU bailout package at the weekend after it was made clear it would have to impose austerity measures in exchange for cash.
Some 17,000 Greeks took to the streets to protest against bailout proposals
Mr Tsipras instead arranged a referendum for Sunday - and is urging voters to say no to the bailout proposal.
European leaders have warned this would lead to Greece leaving the monetary union.
Play video "Brits In Greece 'Should Take Cash'"
17,000 people took the streets in Athens and Thessaloniki to protest against the latest bailout proposals.
As the financial crisis deepens, banks and the country's stock exchange are remaining shut until 7 July, and the daily limit on withdrawals from cash machines has been cut to just €60.
Concerned British tourists who are heading to Greece have been told the ATM limits will not apply to foreign debit cards - but in practice, some cash machines may not be able to tell the difference.
The Association of British Travel Agents is advising visitors to take all of the euros they may need in cash, but says credit and debit card transactions in shops and restaurants will be unaffected.
Sky's Siobhan Robbins, in Corfu, said credit cards were still being accepted though businesses were hungry for cash.
Taverna owner, Dimitris Kourkoulis, claimed his business was benefiting from tourists bringing extra cash, saying: "The fact that people are bringing more cash with them, they have more cash to spend and even our tips have gone up by 40% this month."
Financial markets remained in the doldrums on Tuesday following sharp falls on European stock markets the previous day.
Investors remain nervous on the ramifications of a Greek debt default, with the euro weakening further against the pound and dollar.
Greece Set To Default On €1.5bn Repayment
/-----------
Haven't such much about this on the forum , perhaps no one cares any more
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