Greek crisis: Long lines at ATM machines

Greece1

Many Greeks are rushing to ATM machines across the country and pulling out their money following Prime Minister Alexis Tsipras’ call for a referendum regarding the bailout program for Greece. The EU already announced it will not grant Greece an extension to the bailout program and the talks are scheduled to end on Tuesday.

The announcement of Greek Prime Minister Alexis Tsipras regarding a referendum on the Euro membership and the bailout program for Greece has generated panic and fear among citizens that the state is going bankrupt. This drove masses to the ATMs. Hundreds of ATMs in the country have already been emptied and long lines are seen all over the country.
Earlier today, Greek’s Finance Minister requested that the EU grant his country a one-month extension for the bailout program, which expires on Tuesday, in order for the government to get a clearer picture of the situation in Greece, but the Eurozone finance ministers rejected the request. “There cannot be an extension for the bailout program, because there never was a base for cooperation,” stated a senior source in the Eurozone and added that Tsipras’s announcement surprised them adversely.

Hundreds of ATMs in the country have already been emptied
Hundreds of ATMs in the country have already been emptied Reuters

In a press conference convened yesterday (Saturday) by the president of the Eurogroup, Jeroen Dijsselbloem, it was made clear that the Greek bailout program will end on Tuesday. “I am very negatively surprised by today’s decision by the Greek government,” the Dutch Finance Minister stated. “They have apparently rejected the last proposals on the table and have proposed a referendum with negative advice for the Greek people,” he added.

He did not relate to Greece’s future in the Eurozone, but stated that if the Greeks vote ‘Yes’ in the referendum on the European conditions, the significance of their decision would be unclear. “The situation in Greece is going to deteriorate quickly,” he concluded and added clearly: “The talks with Greece are over.”

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