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Flying Fish and the Greek banking system

23 June 2015 | Posted by: Andrew

The news today is that the Greek banking system is operating normally. However there is still speculation of a banking collapse if the government there fails to get support in parliament for the latest compromises agreed with the EU and IMF.

Flying Fish is a UK company trading in sterling, with most of its assets in the UK. This company is not materially affected by Greece’s financial predicament. Of course if Greek banks run out of cash we will have difficulty in transferring funds to Vassiliki but we keep enough cash there to handle a short term crisis. If necessary, we will be able take Euros in cash from the UK to Greece.

There is no social unrest in Vassiliki. It is a small fishing village on a quiet island which has expanded to accommodate thousands of summer visitors. Tourists put a lot of money into the local economy and the village is thriving.

Our advice to candidates on Flying Fish course this summer is to treat Greece as “situation normal”. The banks there are operating normally and the cash machine in Vassiliki is delivering Euros on demand.

If this changes in future we will update our advice to include information on taking cash and how to keep it safe while you are there.

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