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07 July 2015 08:47
Concerns are being raised about the future of the Greek economy
Greece-bound British holidaymakers have been urged to make contingency plans before they fly out, after the closure of the country's banks.
The UK Government has urged them to take sufficient euros in case of emergency, as the south European country hovers near the edge of economic collapse.
The Foreign Office's (FO) warning came amid fears that British travellers could encounter difficulties withdrawing money from cash-points, or using credit cards there.
The FO said a euro supply would help Greece-bound tourists safeguard themselves against unforeseen delays and emergencies, should the banks run out of cash.
The benefits of travel insurance
Emergencies such as the Greek financial crisis are never pleasant.
But they help to emphasise the benefit of trusted travel insurance should the worst happen.
Whether it is lost luggage, mislaid medication, delayed flights or other nasty surprises, such cover means that holidaymakers can go on enjoying their break with peace of mind.
The Greece situation
Greece has been refused any further credit from Europe. The eurozone rejected the Greeks' requests for more time to pay off their debts as well.
Capital controls are being imposed in Greece.
This means there will be restrictions on both cash transfers and withdrawals alike. Uncertainty remains as to how long the Greek banks will stay shut.
Greece has been told it must meet the International Monetary Fund's 1.6 billion euro (£1.1 billion) debt repayment demand due on Tuesday (June 30).
Failure to do so could see Greece expelled from Europe's single currency.
What it means for British travellers
- they could use a Greek cash-point to find no money is available
- they could have trouble using their credit cards
- they should stock up on more euros than they expect to need... just in case
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