Monday, 22 June 2015

Dire Warning from Greek Bank Boss

BBC AMERICA: If I had any doubts about the dire state of the Greek banking system, and why it matters so much for the Greek government to reach an agreement with creditors today to escape default, those doubts were dispelled in an interview with the chairman of Greece's fourth-biggest bank, Nikolaos Karamouzis.

Mr Karamouzis confirmed to me that the European Central Bank (ECB) has agreed to keep Greek banks alive today.

But he warned there was a genuine risk of Greek banks being forced to close their doors tomorrow and cease dispensing cash for days, if the Greek government led by Alexis Tsipras fails today to convince eurozone finance ministers and government heads that it is taking credible steps to balance its books. (+ BBC video) » | Robert Peston, Economics editor | Monday, June 22, 2015