Caps on cashpoints planned if Greece exit euro
Ministers and officials are drawing up contingency plans for Greece including a cap on cashpoint withdrawals and limits on foreign travel should there be a Greek fallout.
Commission officials confirmed that "these elements" of contingency planning for a Greek exit from the single currency have been discussed by the "euro working group" (EWG) of Treasury officials and junior finance ministers over the last six weeks, reports the Telegraph.
Greek newspaper Ekathimerini reported bank withdrawals in Greece have hit a rate of up to €500m per day due to uncertainty and fears that the eurozone is heading for a break up.
Chancellor George Osborne has warned German leader Angela Merkel may be willing to sacrifice Greece in order to persuade German voters to bail out the euro.
His comments came as the euro crisis continued to deepen, despite an £80billion bailout of Spain’s banks at the weekend, reports.
Speaking at a business summit in London yesterday, Osborne said: "’I ultimately don’t know whether Greece needs to leave the Euro in order for the eurozone to do the things necessary to make their currency survive.
"I just don’t know whether the German government requires Greek exit to explain to their public why they need to do certain things like a banking union, eurobonds and things in common with that."
Diane
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