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Greece travellers 'need euro stash'

07 July 2015 08:44

Greece could soon say goodbye to the euro

Greece could soon say goodbye to the euro

People embarking on holidays to Greece this summer are being warned about a possible "Grexit".

The country faces an exit from the euro bloc - and even the European Union (EU) - if it fails to reach a deal with bailout creditors by the end of the month.

Around two million Britons sun themselves on its shores every year.

Travel organisation Abta is urging all holidaymakers to make sure they have enough cash in euros to get them through their trip.

Don't panic

But travel and money experts claim visitors should not panic over speculation that Greece could exit the eurozone.

If the country was to exit the eurozone, Abta says the switch to a new currency would not happen overnight.

A spokeswoman for the organisation advises holidaymakers heading out to Greece this summer to take some cash in euros with them, as well as other payment methods such as credit/debit cards, so that they are covered for all situations.

She also recommends taking out travel insurance as soon as they book their holiday, to provide protection should they need to cancel.

'No disruption'

European leaders have gathered for an emergency summit in Brussels that could break the deadlock around Greece's debt crisis.

The country must repay a loan of 1.6 billion euros (£1.1 billion) by the end of June or risk crashing out of the single currency, and possibly the EU.

Talks have been ongoing for the past five months.

The European Commission, the International Monetary Fund and the European Central Bank are unwilling to unlock the remaining bailout funds until Greece agrees to economic reforms.

Abta does not anticipate that there will be any need for tour operators to re-book their customers to a different destination in light of the talks.

It has received no indication that holidaymakers will be disrupted, but says it will continue to monitor the situation and work with members on any developments, in a bid to protect travellers over the coming months.