Greece travel advice Q&A: Tourists urged to bring cash not cards on holiday

Same would presumptively be true of students abroad in Greece for the summer.**DB

“Greece travel advice Q&A: Tourists urged to bring cash not cards on holiday”

by Kiran Moodley via “Independent.co.uk”

The Foreign Office has advised British tourists travelling to Greece to avoid relying on cards and that cash will be the best form of currency as the country enters a week of political and economic uncertainty.

Greece is close to a financial collapse with the stock exchange closed and banks shut all week after the European Central Bank (ECB) said that further credit to the nation was being refused after the eurozone rejected the latest bailout extension pleas from Greek politicians.

With new proposals put forward by creditors, the Greek people will go to the polls on Sunday to have their say on whether they agree with the latest round of austerity proposals. Having already overwhelmingly backed the anti-austerity, ultra left party Syriza in January, the future of Greece’s place in the eurozone looks uncertain.

The Foreign Office has advised British tourists travelling to Greece to avoid relying on cards and that cash will be the best form of currency as the country enters a week of political and economic uncertainty.

Greece is close to a financial collapse with the stock exchange closed and banks shut all week after the European Central Bank (ECB) said that further credit to the nation was being refused after the eurozone rejected the latest bailout extension pleas from Greek politicians.

With new proposals put forward by creditors, the Greek people will go to the polls on Sunday to have their say on whether they agree with the latest round of austerity proposals. Having already overwhelmingly backed the anti-austerity, ultra left party Syriza in January, the future of Greece’s place in the eurozone looks uncertain.

The ECB has said it will not extend emergency funding to Greece, thus forcing all banks to close this week with the government saying it needing to protect their liquidity. Currently, people can only withdraw up to €60 (£42) a day this week. The administration of Prime Minister Alexis Tsipras must pay €1.6bn to the IMF on Tuesday. That is also the day when the country’s current bailout package expires, with the new austerity proposal offered by the eurozone yet to be agreed upon by Greece, after the government said it had to take the matter to the people in a referendum on 5 July.

What has the Foreign Office said?

The latest advice reads: “Visitors to Greece should be aware of the possibility that banking services – including credit card processing and servicing of ATMs – throughout Greece could potentially become limited at short notice. Make sure you have enough Euros in cash to cover emergencies, unforeseen circumstances and any unexpected delays.”

What does this mean for holidaymakers?

The €60 restriction on withdrawals does not apply to people who hold bank cards from outside of Greece, but still, the main warning is that it may be difficult to find a reliable, working ATM. . . .

What’s the problem?

READ MORE

 

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