Greek Banks

The capital controls imposed on Greek banks have already had a significant impact on Greek society. Since Greeks are unable to use their credit and debit cards to make purchases the low cost airline Ryanair announced that Greeks passengers will...

"There is an intense cash flow problem and this leads to restrictions on withdrawals and the queues outside the banks. It means that there is not enough money in the banks and for this reason we closely monitor transactions....

By André Broome, University of Warwick Greece missed the deadline on its €1.6 billion loan repayment due to the IMF June 30, becoming the first advanced economy to default to the fund in its 71-year history. Here are nine essential things to know...

British shoe shop worker, Thomas Feeney launched a crowdfunding campaign on Monday to bailout Greece that at time of writing had raised more than half a million dollars. The campaign was started to help Greece pay back its $1.8 billion...

Greece is living under the suffocating pace of capital controls for the last two days. The end of negotiations and the Greek referendum announcement have put everything on hold. Due to the imposition of capital controls, Greece is facing numerous...

Greece and its creditors are reportedly working on yet a new last-minute bailout deal ahead of a $1.8 billion loan repayment deadline to the IMF that the country does not have funds to fulfil. Greek radio station Real fm reported that the new...

The Greek government in collaboration with the Hellenic Bank Association have decided to reopen about 1,000 bank branches on Wednesday that will cater for pensioners who do not use or possess debit cards. Greece's Finance Ministry announced on Tuesday that the branches will...

Fitch Ratings downgraded Greek banks to "restricted default" Monday, a day after the Greek government imposed capital controls that include limits on deposit withdrawals and closed Greek banks for a week. Here's the full release by Fitch Ratings: Fitch Ratings-Barcelona/London-29 June...

The imposition of capital controls will bring radical changes and major restrictions on trading activity. Greek banks will be closed for a week, until next Monday, July 6. The decision to close the banks was made in order for...

Greek banks have closed down, the ATMs have run out of money and the terrified Greek people are forming long lines outside gas stations in order to fill up their tanks. When Greek Prime Minister Alexis Tsipras called for...