Greek Crisis: Chaos As Retirees Mob Banks to Withdraw Cash

Greek Crisis: Chaos As Retirees Mob Banks to Withdraw Cash

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Retirees throughout Greece mobbed banks as they tried to withdraw a maximum of 120 euros ($134) in pension payments on Wednesday, as the country teetered on the brink of economic collapse hours after an international bailout expired.

 

Emotions ran high outside a Piraeus Bank branch in downtown Athens as some 60 customers jostled impatiently after waiting for hours in the sweltering sun.

 

“This is humiliating,” said Athanasios, an 80-year-old former army officer. “I used to receive a monthly pension of 1,500 euros and now I have to line up for hours to receive 120? This is unfair.”

 

Greece earlier failed to repay a loan to the International Monetary Fund (IMF). While Greeks are allowed to withdraw up to 60 euros ($67) from ATMs daily, the government announced on Tuesday that it would allow many retirees, many of whom do not have bank cards, to withdraw 120 euros from banks. Banks have been closed since Monday and are scheduled to reopen next week.

 

Read More: Greek Crisis: Chaos As Retirees Mob Banks to Withdraw Cash – NBC News