Greek government imposes ATM withdrawal limit of €60
People in Greece are struggling to withdraw money from ATMs because of severe capital control implemented by the Greek government.
Banks across the country have been closed all week until Greeks cast their vote against or in favor of the plan that Greek creditors have presented.
As a result, there are hundreds of people waiting in line to withdraw as much as they can from cash machines.
The Greek government implemented capital controls to prevent people from withdrawing money and emptying their bank account out of fear.
There is a daily withdrawal limit of €60 ($66.40 USD).
Banks also found a way of further reducing the amount that citizens could take out by only having €20 and €50 bills available to withdraw from their ATMs.
This has also been affecting tourists who didn’t bring enough money on their trip and need to take more out.
For example, Anthony Adornato, a college professor from Syracuse, New York, said:
“We were finally able to get cash out of an ATM today, thankfully, since we are running out of euros we got in the US,” he added, “We were finally able to get cash out of an ATM today, thankfully, since we are running out of euros we got in the US,”
Others seem to be coping with the situation though, such as Chloe O’Brien, 21, of New York City, who said:
“So far so good because we’ve only been here for a day and came with a lot of euros,”
Until banks reopen tourist and residents will have to limit themselves to only withdrawing €60 a day.