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ATM,s
Jun 27, 2015 13:14:42 GMT 2
via mobile
Post by cainycrunch on Jun 27, 2015 13:14:42 GMT 2
Hi all, Hope you are all well. As usual the British press are sensationalising the greek economy, and austerity measures. They claim the Greeks are withdrawing 1 billion euros a day.and its only a matter of time before the banks implode! Has anybody experienced problems withdrawing cash? Would it be wise to bring extra cash from the UK as a precaution? 8 weeks and counting. Can't wait!!!!
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ATM,s
Jun 27, 2015 15:33:12 GMT 2
Post by artisans on Jun 27, 2015 15:33:12 GMT 2
The article I read today, from Wednesday’s issue of The Sun, was a complete disgrace. If you were on a crusade to ruin Greece, you could not try harder. Of course there are concerns about money, but Corfu carries on as normal. It is natural that people are withdrawing larger quantities of cash if they are able, and that goes for tourists too under pressure from all the media hype. This, in turn, means ATMs need refilling faster than usual and, even without financial problems, there have often been times over the years when ATMs have been empty - for a day. I understand that the security company in charge of refilling ATMs has put into place a huge contingency to keep the machines working and dispel fears. I’ve not yet heard of a problem anywhere.
Steve
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ATM,s
Jun 27, 2015 18:12:52 GMT 2
via mobile
Post by Cainycrunch1 on Jun 27, 2015 18:12:52 GMT 2
i never thought any different Steve. The Sun tends to add two and two and make twelve. I'll be bringing extra cash just as a precaution. I hope and pray, a compromise is reached, and the Greek Isles can get back to what they do best, offering fantastic hospitality, and life time memories for tourists young and old.
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Post by smg on Jun 27, 2015 19:01:28 GMT 2
Although I haven't visited yet this year my impression from this site and others is that the isles are pretty much doing what they always did despite the reports in newspapers perhaps things are different on the mainland ?
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Post by redwalks on Jun 27, 2015 22:47:54 GMT 2
I can offer one solution stop reading the sh1te the press association throw at us. Particularly The Scum and The Daily Fail. Papers built on lies and hate!
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ATM,s
Jun 28, 2015 7:27:25 GMT 2
via mobile
Post by cainycrunch on Jun 28, 2015 7:27:25 GMT 2
I agree Redwalks, The latest one today, is that the tourist Islands will lose there favourable tax cuts given by the government in the next round of austerity measures. They claim this will impact on tourism as prices rise. I shall just put the blinkers on , and look forward to August.
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ATM,s
Jun 29, 2015 7:53:49 GMT 2
Post by artisans on Jun 29, 2015 7:53:49 GMT 2
As it is understood at the moment, there will be a referendum in Greece next Sunday, July 5th. The Greek government has confirmed that banks will be closed all week, after a decision by the European Central Bank not to extend emergency funding. In a decree, it cited the "extremely urgent" need to protect the financial system due to the lack of liquidity.
Cash withdrawals from ATMs will be limited to €60 (£42; $66) a day for this period, the decree says, but the restriction on withdrawals will not apply to holders of foreign bank cards.
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ATM,s
Jun 29, 2015 9:19:08 GMT 2
Post by guest on Jun 29, 2015 9:19:08 GMT 2
although they are likely to be empty anyway
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ATM,s
Jun 29, 2015 9:54:11 GMT 2
Post by Ben on Jun 29, 2015 9:54:11 GMT 2
Hi
I think although you need to read the Sun et al with a bit of scepticism, it would be prudent to be prepared and take more Euro's with you than you would normally. The government would not close the banks for a week with no reason ...
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ATM,s
Jun 29, 2015 11:04:21 GMT 2
Post by artisans on Jun 29, 2015 11:04:21 GMT 2
There is no reason at the moment to assume the ATMs will be empty. G4S I think, has the contract for refilling them. If any machine is empty, it is because of panic withdrawals, possibly by tourists. In large Greek cities, people use credit far more than in Corfu - here, it is cash that is king. In any case, machines have always been empty on odd days while we wait for refilling. The Government has closed the banks to encourage ‘composure’, and to slow down the process of Greek people withdrawing their money from Greek banks. As things stand today, it should not affect visitors using foreign bank accounts. Above all, please be patient ...
Steve
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ATM,s
Jun 29, 2015 14:38:43 GMT 2
Post by artisans on Jun 29, 2015 14:38:43 GMT 2
Considering the numerous exchange bureaux in the village, they are taking in foreign currency and issuing euros, a practise that cannot continue indefinitely. Only when the banks re-open will they be able to deposit their foreign currency and withdraw euros for future transactions. From what I can see in Roda, most have good stocks of euros, but they are acting responsibly by trying to make them last as long as possible. They may, in the short term, limit the amount exchanged on any one day to ensure there is enough for all.
Don't forget that they will have to hold on to these foreign currencies for at least next week and they have no idea today, what rate the banks will then be offering. They are being rightly cautious by protecting their interests and maintaining supply at sensible rates for visitors. Rates and limits do vary from one to another, but they are still good value whatever.
Steve
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ATM,s
Jun 29, 2015 22:51:07 GMT 2
Post by Another view on Jun 29, 2015 22:51:07 GMT 2
What do you suppose the atm's will be filled with? The banks will not be issuing cash to put into them. The exchange bureaux will also stop issuing euros in the short term- once the atm's are empty watcn their rates soar as the competition from the bank machines disappears. They will certainly protect their interests so as to maximise their profits. Get plenty of euros in the Uk. What about petrol? hire a car with an empty tank at your peril. And watch out for the forthcoming emergency rates of Vat which will be added to your restaurant/bar bills (cash only accepted)
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ATM,s
Jun 29, 2015 23:58:18 GMT 2
Post by uptonogood on Jun 29, 2015 23:58:18 GMT 2
What do you suppose the atm's will be filled with? The banks will not be issuing cash to put into them. The exchange bureaux will also stop issuing euros in the short term- once the atm's are empty watcn their rates soar as the competition from the bank machines disappears. They will certainly protect their interests so as to maximise their profits. Get plenty of euros in the Uk. What about petrol? hire a car with an empty tank at your peril. And watch out for the forthcoming emergency rates of Vat which will be added to your restaurant/bar bills (cash only accepted) I'm guessing your a glass half empty type of person!
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ATM,s
Jun 30, 2015 0:12:42 GMT 2
Post by another view on Jun 30, 2015 0:12:42 GMT 2
Or a realist maybe? Not self serving propaganda anyway.
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ATM,s
Jun 30, 2015 9:32:44 GMT 2
Post by artisans on Jun 30, 2015 9:32:44 GMT 2
As I said yesterday, ‘another view’, it is thought that G4S has the contract for re-filling ATMs and they had already announced that they had built up reserves to cover this eventuality. Put yourself in the position of the exchange agencies - what rate would you fix today, not knowing what it will be when you can finally exchange the foreign currency you have taken? I have spoken to some of the people involved and I get no impression of profiteering. On the contrary, they are trying to make a little go a long way and make sure they are still in business for us throughout the season. I certainly wouldn’t like to guess what they will get for their money when it all shakes out.
I agree about getting plenty of euros in the UK, it is the best advice for now, if only to take pressure off the ATMs. I believe that the government has pledged not to increase costs to tourism this year at least and Mr Tsipras has called for composure. Maybe Tony is correct in his opinion.
Steve
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