Cash ain’t King in Greece!

1 Jul

No doubt many of you have been watching this unfolding Greek tragedy. And I’ve tweeted already about the excellent CEPR piece about he background to the crisis and Greece’s (pre-financial crash) economic mess – see goo.gl/v7NLKo

But it occurred to me to wonder how card transactions are faring in Act II (Act III being, I assume, where everyone gets killed, which seems the likely outcome at the moment). Well, according to Visa Europe’s news update from a couple of days ago, not too badly (see goo.gl/wsyZ8u ). Not only is there a distinction between Greek and non-Greek Visa card holders (to whom the €60 daily limit doesn’t apply), but Visa also says that card transactions are being processed as normal, and helpfully hints that some shops are still doing cashback!

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