Greece ‘may become all-cash’ society
The FTSE100 closed up 2.57 pts at 6,722.36 but extended a four-week losing streak. The index fell 1.1% this week amid ongoing tensions over the Greek debt situation.
There were warnings that Greece may become a cash-only society and some €2bn has been withdrawn from Greek banks this week, including a record €1bn on Wednesday alone.
Furthermore, an ECB official has warned that Greek banks may not be able to open at all next week due to insufficient funds, prompting worries about a further flight of funds.