Arab Today, arab today greeks rush to withdraw cash as mps debate bailout referendum
Last Updated : GMT 01:38:25
Arab Today, arab today
Arab Today, arab today

Greeks rush to withdraw cash as MPs debate bailout referendum

Arab Today, arab today

Arab Today, arab today Greeks rush to withdraw cash as MPs debate bailout referendum

People stand in a queue to use ATM machines
Athens - AFP

Greek lawmakers on Saturday debated whether to hold a controversial bailout referendum as fears of a default intensified and worried customers began queueing to withdraw money.

Prime Minister Alexis Tsipras, who last night stunned Greece's creditors with his call for a July 5 referendum on their cash-for-reforms plan, will address parliament ahead of a midnight vote by MPs on whether to stage the plebiscite. Results are expected about one hour later.

Eurozone finance ministers meeting in Brussels raised the stakes meanwhile by refusing to extend Greece's bailout until after the proposed referendum, insisting on sticking to the programme's June 30 expiry date. That same day, Athens must pay a crucial 1.5 billion euro IMF debt payment or risk a default and possible exit from the euro.

The uncertainty sent Greeks rushing to ATMs in fear of capital controls and more financial chaos after nearly six years of crisis and deep recession.

In Greece's second city, Thessaloniki, some banks have run out of money, according to an AFP reporter, while a National Bank branch had a queue of 50 people.
"I have a shop. I came to the bank to withdraw as much money as I can in order to cover the needs of my shop for next week," 42-year-old Maria Kalpakidou told AFP.

"If we don't have an agreement by July 4, the Greek banking system will crash."

Private employee Nikos, 52, added: "There is a lot of fear of what may happen.

"In the last election I voted for Syriza. But we voted for them to decide, not to transfer responsibility to us, to the Greek people."

Another bank customer, Sofia Makridou, told AFP that there is "great uncertainty and insecurity for what may happen", adding it is "rational that there is a bit of a panic".

In central Athens, small groups of between three and 10 people were seen queueing at 10 different ATMs.
At the Greek parliament, several sources told AFP that the two cash machines there had run dry, but they were later reported to be operating as normal.

A Greek central bank source said it would do "whatever possible" to make sure that cash machines were stocked.

Banking deposit withdrawals had already accelerated sharply in recent days amid increasing acrimony in the tough negotiations between Athens and international creditors to reach a debt deal that could stave off a so-called "Grexit".

- 'A loud no to austerity' -

The premier's shock referendum call came after Greece on Friday rejected its international creditors' offer of a five-month, 12-billion-euro ($13.4-billion) extension of its bailout programme, arguing that the reforms demanded in return for the cash were unacceptable.
The creditors' proposals included more labour market deregulation, pension cuts, further reductions in public sector wages, higher VAT on food, restaurants and tourism, and the elimination of tax breaks for far-flung Greek islands.

Tsipras' radical leftist Syriza party has urged Greeks to vote against the proposal in the referendum, arguing it would worsen austerity in a nation already buckling under economic hardship.

"We are calling the working people, the youth, the pensioners, the farmers, to turn down the ultimatums of the creditors," Syriza's political secretariat said in a statement.

"We call the Greek people to say a loud 'No' to the heavy hand of austerity."

Greek Finance Minister Yanis Varoufakis said Athens was still fighting for a better deal.

"The question we are putting to the Greek people is: do you agree that we should sign on the dotted line on the proposal of the institutions?" he said in Brussels.

"We are leaving room for the proposal to be improved," he insisted.

Greek financial newspaper Naftemporiki described Tsipras's announcement as a "referendum bomb" that came as an "absolute surprise inside and outside the country".

A recent opinion poll showed that more than three-quarters of Greeks want to remain in the eurozone, while just 16 percent called for the return of its old drachma currency.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today greeks rush to withdraw cash as mps debate bailout referendum Arab Today, arab today greeks rush to withdraw cash as mps debate bailout referendum

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 11:43 2017 Wednesday ,22 February

South Africa budget throws light on fractured ANC

GMT 11:35 2017 Wednesday ,22 February

British economy grows 0.7% in final quarter of 2016

GMT 06:04 2017 Wednesday ,22 February

Hammond closes in on budget goal

GMT 05:34 2017 Wednesday ,22 February

Euro zone economy outlook shines

GMT 04:10 2017 Wednesday ,22 February

US stocks finish at another all-time high
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday