Newspaper article The Evening Standard (London, England)

HOLIDAY BRITS SHUN CRISIS-HIT GREECE; EUROPE HAS 48 HOURS TO AVOID MAYHEM; SHARES FALL AROUND WORLD AFTER NO VOTE; 'If People Don't Feel Secure They'll Stay Away'; Holidaymakers Warned of New Financial Risks as EU Leaders Meet

Newspaper article The Evening Standard (London, England)

HOLIDAY BRITS SHUN CRISIS-HIT GREECE; EUROPE HAS 48 HOURS TO AVOID MAYHEM; SHARES FALL AROUND WORLD AFTER NO VOTE; 'If People Don't Feel Secure They'll Stay Away'; Holidaymakers Warned of New Financial Risks as EU Leaders Meet

Article excerpt

Byline: Nicholas Cecil and Jonathan Prynn

THOUSANDS of Britons were today shunning holidays in Greece amid warnings that Europe has just 48 hours to avoid economic mayhem from the eurozone splintering.

With Greece on the brink of plunging out of the single currency in the biggest upheaval since the fall of the Berlin Wall 26 years ago, Britons were avoiding booking breaks on the Greek mainland and islands.

The country's No vote in the referendum sparked growing uncertainty over how banks, hotels, restaurants and other businesses would survive an economic maelstrom if it is forced out of the euro.

Markets fell around the globe as Athens looked set to leave the euro unless an eleventh-hour deal could be found with its creditors tomorrow. Greek employment minister Rania Antonopoulos warned that a "Grexit" would be "the worst possible outcome". "There are still 48 hours and we will push as much as possible for an outcome of this negotiation that does not obligate Greece to go in that direction," she told BBC radio.

Tourism industry experts revealed that bookings by UK holidaymakers were 75 per cent down on normal levels as the economic turmoil took its toll. In a series of other dramatic developments after Greeks overwhelmingly voted to reject an agreement with creditors: Finance minister Yanis Varoufakis resigned in an attempt to break deadlocked talks.

David Cameron chaired a crisis meeting, attended by Bank of England Governor Mark Carney, Chancellor George Osborne and other senior ministers on how to protect the British economy from eurozone fall-out.

German Chancellor Angela Merkel was meeting French President Francois Hollande in Paris amid talk of a rift at the heart of Europe over eurozone economic rules.

British holidaymakers were advised to ensure they take enough cash to cover their stay in Greece and to guard against it being stolen.

Noel Josephides, chairman of Greece specialist Sunvil Holidays and of the tourism body ABTA, said the current level of holiday bookings to Greece was only around a quarter of what they would normally expect at this time of year. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.