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 a referendum on July 27, he caused confusion and panic not only within the country, but also abroad, to the country’s creditors who were not accepting the government’s request for a small bailout program extension and preparing for their next crucial moves.
Meanwhile, the tension that broke out in the country over the weekend could not pass without comments by international media, referring extensively to the rapid political and economic developments.
The Financial Times’ front page was dedicated to Greece, with the image of a large queue forming outside Alpha Bank and an article entitled “Greece closes banks to head off chaos as bailout talks break down,” the British newspaper wrote that Greece is one step closer to a possible exit from the eurozone.
The BBC, in an article entitled “Greek debt crisis: Banks to remain shut all week” noted that Alexis Tsipras called for a referendum on July 5, while assuring the people that their deposits were safe. The British network also featured an image of the long queues forming outside Greek banks, all over the country.
The French Liberation noted that Alexis Tsipras opened the door for a Grexit after announcing the referendum regarding the creditors’ proposals. Furthermore, the French newspaper published another article on its website, stating that the banks will remain closed until July 6, while capital controls amounting to 60 euros have been imposed.
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Hugo Dixon, a columnist and entrepreneur, published his opinion on BreakingViews. “The chance of Greece quitting the euro has risen sharply,” he noted. However, he stressed that there is still hope. “A so-called Grexit can still be stopped, despite dramatic weekend developments which saw Athens declare a six-day bank holiday after talks with its creditors broke down.” The most obvious way of avoiding a Grexit is for the Greeks to accept the bailout terms, he wrote, but even if they do, it is not certain that the country will remain in the monetary union.
“Nevertheless, given the misery that awaits the Greeks if the country quits the euro, one hopes that they find some kind of way to avoid it,” he concluded.
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