The Strategist

Western Union Returns to Greece

07/07/2015 - 18:47

The international company Western Union has resumed the transfer of funds to Greece, allowing customers in the country to receive transfers from abroad, reports Reuters. It is noted that customers in 31 countries will be able to use the service Western Union to transfer money to Greece.

David Weekly
David Weekly
The company said that all the money transferred to Greece will be credited to customer accounts, but the residents will be able to get cash in amount not more than € 60 a day, due to the decision of the Greek government on June 29 to close banks before 6 July 2015 and to introduce capital controls, limiting, including cash withdrawals from ATMs in the sum of € 60.

Earlier it was reported that the head of the Hellenic Bank Association Louca Katseli said that Greek banks would remain closed until Thursday.
- We decided to extend the bank holidays for two days more - Tuesday and Wednesday,"- said Mr. Katseli. He added that the amount of cash that residents will be able to withdraw from cashpoints on a daily basis remains the same - € 60.

July 5, Greece held a referendum on the question "Should the plan of the agreement (the order of debt repayment, new lending and a set of austerity measures), presented by the European Commission, the European Central Bank and the International Monetary Fund, be adopted?". More than 60% of citizens answered it in the negative, what does not contribute to solving the Greek debt problem.