Skopje, Central Bank orders banks to withdraw the funds from Greece

Skopje, Central Bank orders banks to withdraw the funds from Greece

Skopje, 29 June 2015/Independent Balkan News Agency

By Naser Pajaziti

Bank authorities in FYR Macedonia have ordered banks that operate in FYROM to withdraw the funds in Greek banks and take “preventive measures” to restrict the departure of capital in the southern neighbor, which is threatened by a deep financial crisis.

This movement by the Central Bank followed Athens’ decision to take capital under control and close banks, given that international lenders continued to refuse the loan, while customers swarmed in banks to withdraw their cash.

Central Bank in Skopje said that the measures are temporary and aiming at assessing the risk of a larger leak of capital from FYROM to the southern neighbor, which would have a huge impact in the stability of the financial system.

20% of the assets of Greek banks are in FYROM and these banks also hold shares in banks in Bulgaria, Romania, Serbia and Albania.  /ibna/