WHAT do you do when you travel to a country where there is a banking panic, with ATMs only doling out limited amounts of cash? Greece has put a limit of €60 ($67) on withdrawals from its cashpoints, and tourists are evidently worried about whether they will be able to lay their hands on enough hard currency. The country is doing its best to put on a business-as-usual face for visitors. It is emphasising that the limit does not apply to those with foreign debit or credit cards. The tourism ministry says that it “does not anticipate any inconvenience in visitors' every day holiday experiences... as there are adequate fuel supplies, products and services”. Still, worries that the ATMs might run dry prompted George Osborne, Britain’s chancellor of the exchequer, to warn visitors that they should stock up on enough euros to last the whole of their trip before heading to the country.
That may be sensible. And not just in countries on the brink of a banking crisis. Gulliver has repeatedly failed to learn the lesson that relying on ATMs when he gets to his destination is a...Continue reading
Source :Business and finance http://ift.tt/1Nv7Yss
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