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Greeks line up outside bank as debt deadline nears

Saturday, June 27, 2015 - 00:57

Greeks line up to withdraw money amid worries the country could be forced to implement capital controls. Rough Cut (no reporter narration).

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ROUGH CUT (NO REPORTER NARRATION) Greeks queued up to withdraw money from their bank accounts on Saturday (June 27) amid worries the country could be forced to implement capital controls. A branch of Piraeus Bank, in central Athens, which normally opens its doors at 1030 local on Saturdays (0730gmt) was still closed an hour later and a long queue had already formed outside by 11 am. A senior executive at Piraeus Bank said they intended to open the branch but they were considering security issues because of the long lines. Euro zone partners have warned Athens it has until the weekend to accept a cash-for-reform deal or plunge towards default. In a carrot-and-stick approach, the euro zone offered to release billions in frozen aid if Greece accepted and implemented pension and tax reforms that are anathema to its leftist government, elected in January on a promise to end austerity. If Greece does not clinch an agreement at the weekend to unlock funds, it is set to default on an International Monetary Fund loan on Tuesday, possibly sparking a bank run, capital controls and raising doubts about its future in the euro zone.

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Greeks line up outside bank as debt deadline nears

Saturday, June 27, 2015 - 00:57