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ATHENS – New Democracy lawmaker Dora Bakoyanni said if Greece doesn’t reach a deal with international lenders she fears capital controls and bank account seizures will be imposed.

Bakoyianni said that would happen over the weekend as Greece otherwise would likely default on June 5 unless an agreement is reached to release a critical 7.2-billion euro installment delayed because Prime Minister Alexis Tsipras refuses to implement new austerity measures.

Speaking on Skai TV on May 25, the ex-foreign minister called on Tsipras to seal an agreement with the troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) and bring it to Parliament for approval as soon as possible.

“If we do not have an agreement by Friday, I fear that over the 3-day weekend, there will be capital controls, as happened in Cyprus,” said Bakoyanni.

June 2 is Holy Ghost Day and a religious holiday in Greece. Bakoyianni was referring to Cyprus setting bank withdrawal daily limits and confiscating 47.5 percent of bank accounts over 100,000 euros as a model that could be used in Greece, forcing depositors to bail out Greece if the troika stops.

Bakoyanni suggested that all opposition parties should back the agreement and that Tsipras should call snap elections after the deal is passed through the House.

But her own party leader, former Premier Antonis Samaras, said he’s unlikely to back any agreement that includes more of the same austerity measures he imposed and brought own his government.

The post Bakoyanni Warns Capital Controls appeared first on The National Herald.

Source: The National Herald
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