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Monday, June 29, 2015

Macedonia tells banks to pull money from Greece

By Kole Casule SKOPJE (Reuters) - Macedonia ordered its banks on Sunday to pull their money from Greek banks and imposed "preventive measures" to limit the outflow of capital to its southern neighbour, threatened by financial meltdown. The move by Macedonia's central bank followed an announcement by Athens that it would introduce capital controls and keep banks shut on Monday after international creditors refused to extend the euro zone country's bailout and savers queued to withdraw cash. The central bank in Skopje said the measures were "of a temporary character, introduced in order to address the danger of an eventual more significant ouflow of capital from Macedonia towards our southern neighbour, that may cause significant disruption to the balance of payments and to the stability of the financial system." It said the capital limits would apply only to future transactions, not to arrangements already in place between Macedonian and Greek entities.


READ THE ORIGINAL POST AT uk.news.yahoo.com