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Political expert warns Greek patience with closed banks is limited

Monday, July 06, 2015 - 01:22

Greeks woke up to long lines at ATMs and news that their Finance Minister had resigned, a day after the country rejected the terms of a bailout. Deborah Gembara reports.

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Greeks woke up to long lines at ATMs and more uncertainty, a day after the country rejected the terms of a bailout. (SOUNDBITE)(Greek) ATHENS RESIDENT AND PENSIONER, VANA KOKIROU, 69, SAYING: "I do not know what will happen with the banks. I haven't even gotten last month's pension and I can only get 50 to 60 (euros) to get by. I am having a tough time like the rest of my family." (SOUNDBITE) (Greek) PENSIONER, GEORGE KARNASOS, 71, SAYING: "We want them to listen to the voice of the Greek people and Draghi must give money to the banks so they open." The relative calm on the streets of Athens is remarkable, says political expert Wolfgang Piccoli but it will be short lived if the leadership doesn't temper expectations. (SOUNDBITE) (English) POLITICAL RISK EXPERT WOLFGANG PICCOLI, SAYING: "It is certainly misleading when they are saying they are going to reach a deal within the next 48 hours and banks will be open tomorrow. None of the two is going to happen. The banks will be closed tomorrow and, by the end of tomorrow, they are going to be out of money in the ATM machines. Unclear whether they can reopen on Wednesday at this point and certainly no deal within 48 hours. It could take weeks to reach a deal." Earlier on Monday, the country's Finance Minister Yanis Varoufakis, a critic of the austerity measures linked with the latest bailout, resigned. In a statement, he said some European partners thought his presence at talks would hinder a possible deal.

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Political expert warns Greek patience with closed banks is limited

Monday, July 06, 2015 - 01:22