Ex caretaker PM speaks about plan to shut banks in 2012

Former caretaker prime minister Panagiotis Pikramenos has explained that the administration he was in charge of had prepared plans to shut down Greece’s banking system if elections in 2012 could not produce a government.

Two ballots were held in May and June in 2012, with the second one eventually resulting in a three-party government led by New Democracy.

“We were on the verge of bankruptcy,” Pikrammenos told Skai in an interview. “If elections failed to yield a clear result, we would shut down the banks. Cash withdrawals were through the roof and money had run out,” he said.

Pikrammenos said the plan had not been discussed with European officials. He added that German Chancellor Angela Merkel did not raise the prospect of a Greek euro exit at the EU summit held at the time.