Possible Greek Euro exit - what it could mean?
Yesterday in the Sunday Times Newspaper, Visa admitted "there are a number of issues outside our control that may affect consumers’ and retailers’ ability to use their cards in the short term”.
It seems that whilst Visa will be able to reporgramme its systems to accept the Drachma, the hundreds of thousands of shops and hotels using credit card terminals, as well as ATMs will all need to be tested and often manually upgraded.
For the forseable future, anyone travelling to countries in the Eurozone where there might be currency problems is advised to carry cash. Euros in cash are likley to be accepted and can always be changed into whatever new local currencies appear.
Our CEO Sacha Zackariya's article for CNBC on the background to the Greek problems and what it might mean for people travelling or doing busienss with Europe can be found here: