Greek crisis: Neighbouring countries issue assurances

Greece’s four neighbouring countries have issued assurances in the wake of the country’s financial and economic crisis, imposition of bank closures and credit controls and as it appears headed for default.

In three cases, Albania, Bulgaria and FYROM***, the assurances have been to the countries’ citizens, while Turkey on June 30 issued an assurance to Greece itself, with Ankara saying that it was “ready to help” by boosting co-operation with Greece in tourism, energy and trade.

Of Greece’s four neighbours, none is a member of the euro zone and only one, Bulgaria, is a member of the EU.

In FYROM, there have been growing concerns about the Greek crisis, but bank authorities in Skopje have said that the crisis cannot threaten the banking sector of the country. However, there are concerns that the situation may infect FYROM because of commercial ties, the Independent Balkan News Agency reports.

FYROM’s central bank has taken several measures as of June 30, applicable to banks and companies.

The central bank in Skopje ordered all banks in FYROM to withdraw the funds that they have in Greek banks or their branches.Some the banks that operate in the former Yugoslav republic have deposits in branches of Greek banks in Romania and Malta, which they must withdraw. Companies also have been ordered not to make payments to Greek banks’ accounts....
 [sofiaglobe.com]
30/6/15
***[After the necessary corrections with the name "FYROM".

GREECE recognized this country with the name "FYROM"]
***[UN  resolution A/RES/47/225 of 8 April 1993]
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Related:

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• Greece proposes two-year debt deal with ESM to avert default

• Turkey ready to do all it can to back crisis-hit Greece