Listen Live
    Panos Kammenos

    Greek Defense Minister Allays Public Fears of Bank Closure

    © AFP 2019 / Sakis Mitrolidis
    Business
    Get short URL
    Greece's Gordian Knot: Syriza Tackles Austerity (404)
    0 65

    Greek Defense Minister Panos Kammenos urged the public on Saturday to keep calm amid the upcoming referendum on the bailout program and vowed the banks would not run out of cash.

    ATHENS (Sputnik) – Thousands of Greeks rushed to withdraw their cash on Saturday after Prime Minister Alexis Tsipras announced that a surprise referendum on whether to accept an accord for a new bailout with its creditors would take place July 5.

    “The Greek people should remain calm, as the banks will not close. There will be cash in the ATMs,” Kammenos told Mega TV channel.

    Eurozone finance ministers are expected to meet later in the day in Brussels in a last-ditch attempt to secure a deal with Athens as the current bailout program draws to a close on Tuesday.

    The same day, Greece must deliver the next $1.7-billion payment to the International Monetary Fund (IMF). A failure to thrash out a deal carries the risk of a Greek default and possible euro-exit.

    Topic:
    Greece's Gordian Knot: Syriza Tackles Austerity (404)

    Related:

    Greek Crisis: How Did the Debt Spiral Unfold?
    Obama Must Back Greece in Debt Recovery Talks - Hellenic Caucus Leaders
    EU Finance Ministers to Hold Final Talks on Greece Debt Settlement
    Tags:
    referendum, debt, Alexis Tsipras, Panos Kammenos, Greece
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik