Greek Banking Crisis

Today was off to a shaky start in Greece as locals grappled with the implications of the banking crisis. All banks were shuttered today to prevent a run on financial institutions. Local folks that we talked with were worried about how they were going to cope with the 60€ daily cash withdrawal limit imposed on all Greek accounts. Some told us that anticipating this problem they had all ready taken most of their money out of the bank. Many businesses are now cash only.



The restrictions do not apply to tourists using foreign bank cards, so for now we are still able to withdraw cash. Greece relies heavily on tourism, and in an attempt to keep people from canceling their vacations and therefore damaging the fragile economy, tourists are exempt from banking restrictions. Here is a shot of me successfully using the ATM.



If you are planning to visit Greece anytime soon, you must bring cash.



More soon.