bank notes

bank notes

Panic ATM withdrawals lead Greek govt. to order banks closed

6d ago
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Greeks raced Sunday to find cash machines in an increasingly anxious run on the banks, as speculation mounted of capital controls and a possible bank holiday being declared. In central Athens, as least a dozen ATMs could no longer dispense bank notes, prompting Athenians and tourists alike to roam the streets in a frantic hunt for cash. According to an anonymous banking source in Greece, only 40 percent of the nation's cash machines currently have money in them -- purely because they cannot be restocked with banknotes quickly enough. To avoid a crash, Greek banks will remain closed until July 6 -- the day after a referendum on bailout proposals -- and ATM withdrawals will be limited to 60 euros ($65) a day in the same period, according to an official decree published early Monday. --AFP