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Wednesday, 1 July 2015

Corfu, Greece: "Climate of Fear - Banks run dry" ; Holidays in Greece; Greek Concerns; Tourists' Concerns

From Mail Online - Climate of fear as the banks run dry amid Greece's move towards economic meltdown, writes RICHARD PENDLEBURY from Corfu

"Paradise is in danger of being lost. Yesterday, as Greece lurched ever closer to default and an exit from the eurozone, a chill was running through this former British protectorate, while its UK expat community and incoming tourists felt the first bite of impending economic disaster. Foreign credit cards are now being refused here; petrol stations are also running dry, as are some of the cash machines at the local banks whose doors closed on Monday. The majority of banks will stay shut for the rest of the week, if not longer".

Kindinologies? Scaremongering?

Cash is King on Corfu (The Independent) - "Cash is king in Corfu town. No-one will mention the Greek crisis to any visiting tourist unless you bring it up yourself. As the children of super-rich Russian oligarchs skim stones on the Ionian Sea, one might be forgiven for thinking "Crisis, what crisis?"

BBC News on Planning a Holiday in Greece

"What's it really like on holiday in Greece?" - some tourists are asking 'where's the economic crisis?'

"A magnet for muggers" -

"Families of four should carry at least €1,500 for a two week trip to Greece
That figure could double if the family considers hiring a car for their trip
Typical travel insurance policies only cover around £400 worth of cash".

Safes selling well (Herald Sun) - Those selling safes are cashing in on Greece’s financial uncertainty

Stockpiling food (Business Insider) "Locals stockpiling food and fuel, leaving many supermarkets empty and petrol stations without a drop of gas available. Several days later — and the situation has not changed""

Banks will start running out of money (The Times) - "Banks will start running out of cash on Sunday even as Greeks go to the polls, with their government urging a “no” vote on austerity measures proposed by international creditors".

Cash Crunch (Wall Street Journal) - Cash Crunch Hits Everyday Life in Greece-
"Shutdown of Greece’s banking system cripples businesses, makes it hard for people to pay bills; just €1 billion in cash left"

Greek banks will only reopen after a deal with lenders (Reuters) - "Nikos Pappas, a state minister and top aide to Prime Minister Alexis Tsipras, told journalists on Thursday that the banking system would return to normal "the minute we have a clear result." "The banks will reopen as soon as we get an agreement," he said, adding that the government "would never consider" a haircut on deposits"

iefimerida: Merkel to the rescue

From the point of view of foreign tourists (as opposed to that of Greek pensioners and the unemployed) I would say, in good Aussie fashion: "No worries". Angela will fix it. But now I'm not so sure.

Shameful pictures from Greece; Greek pensioners queue for a pittance

Lafazanis on Fuel Reserves Plan (To Vima)

Kammenos on Role of Army to ensure Stability (EUObserver) - "The special forces in the army are responsible for maintaining the stability inside the country," Greek Defence minister Panos Kammenos said in a statement Thursday (2 July), three days ahead of a referendum on Greece's bailout programme. The statement comes amid capital controls and closed banks in Greece.

The Telegraph reports - Greek banks down to €500m in cash reserves as economy crashes

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