Chancellor George Osborne has advised holidaymakers to Greece to take hundreds of euros in cash amid fears that the country’s ATMs will run out of money following the decision to close all banks until July 5.
"We hope for the best, but we are preparing for the worst," said Osborne late yesterday, as he also announced help for British pensioners living in Greece and support for exporters suffering cash flow problems.
The Foreign Office is advising holidaymakers to take enough euros in cash to cover the entire duration of their trips, emergencies, unforeseen circumstances and any unexpected delays.
Greece has imposed a €60 limit on ATM cash withdrawals, although this doesn’t apply to holders of foreign credit and debit cards and the Greek government is attempting to reassure tourists that their trips will be unaffected.
The Foreign Office is also warning holidaymakers of the possibility of protests across the country on Sunday when Greece, which is widely expected to default on a €1.6 billion loan repayment to the International Monetary Fund today, will hold a referendum on EU austerity measures.
Osborne said if the country voted against accepting latest proposals from its creditors, it would be voting to leave the euro.
UK bank HSBC closed its 15 branches in Greece on Monday and they are expected to remain closed until the referendum on July 5.
