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Greece has among the most expensive and charged fuels in the EU

Jul 1st 2015 at 12:52 AM

Drivers stormed Greek petrol stations Sunday to make fuel stocks, large queues were recorded at numerous auto refueling stations. The phenomenon was caused not by the specter of a possible shortage of gasoline and diesel, but the prospect of restrictions on cash withdrawals from ATMs imposed by the authorities in Athens. For the same reason, they were assaulted and hypermarkets and supermarkets, making Greeks and supplies of food and other basic necessities.

Greece is in the top 28 of the top EU regarding fuel prices and their level of taxation . According to latest data of the European Commission, Greece ranks in the top five EU countries with the most expensive gasoline (final price, all taxes included), Euro-Super 95 range costing 1.58 euro / liter, surpassed by Denmark (1.6 euro / liter), the UK (1,626 Euros / liter), Italy (1,631 Euros / liter) and the Netherlands (1,668 Euros / liter).

The EU average is 28 euro 1.494 / liter. Restrictions of the movement of capital Alexis Tsipras Greek prime minister announced Sunday night that Greek banks will remain closed for an unspecified period and withdrawals will be restricted on the recommendation of the Central Bank of Greece. Subsequently, following an extraordinary meeting, the Athens government decided that banks will remain closed for a week, until July 6, and will be imposed a daily limit on cash withdrawals from ATMs of 60 Euros. Also, the Athens Stock Exchange will be closed Monday. In addition, the Greeks will not be able to perform online banking transactions through which to transfer money in foreign accounts. For emergency needs, such as imports of drugs or money remittances to relatives from abroad, the Treasury Athens created a Banking Transaction Approval Committee will examine each request of this type and will make a decision at case.

Foreigner’s holders of credit cards and debit cards issued outside Greece will be able to get money out of ATMs Greek without restriction, except being admitted to not be affected by the tourism industry in full summer season.Tourism has a significant share in the Greek economy. Previously, several countries, including Romania , have announced their citizens traveling to Greece to carry the sufficient cash to cover all costs in the event of disruption of banking in this country.

Follow Grexit or someone will succumb? Decisions occur after long queues were formed in the past two days at ATMs across the country, following the decision of Prime Minister sudden Tsipras to call a referendum on the reform proposals by international lenders to continue funding Greece. The announcement on holding a referendum Greek Prime Minister surprised the euro zone finance ministers, who rejected the request from Athens Saturday to extend by one month program of financial support of 240 billion euros, of which Greece has to receive 7.2 billion euros.

The European Central Bank decided Sunday to maintain but to freeze funding through banks in Greece ELA program at the level set on Friday. The referendum is scheduled for next Sunday, but Greece's current aid program expires on Tuesday and the remaining 7.2 billion euros that the Greek State had received it will no longer be available after this date. Without these funds, Greece could be unable to pay a debt of 1.6 billion euros to the IMF, also due on Tuesday.

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