Reuters - Video

Edition: U.S. | U.K. | IN | CN

Editors' Picks

Syriza in chaos as Greek talks begin

Monday, July 27, 2015 - 01:31

Some members of Greece's leftist government reportedly want to raid central bank reserves and hack taxpayer accounts to prepare a return to the drachma. As Ciara Lee reports the allegations highlight chaos in the ruling Syriza party just as bailout talks begin in Athens.

▲ Hide Transcript

View Transcript

Raid central bank reserves and hack taxpayer accounts - it's not a film plot - it's the reported plan of some members of Greece's leftist government to prepare for a return to the drachma. It is not clear how seriously the plans, attributed to the now sacked former finance and energy ministers, were considered by the government. But it highlights the increasing chaos in Greece's ruling Syriza party. Around a quarter of the party's lawmakers rebelled over the vote for sweeping austerity measures. Admiral Markets' Darren Sinden. (SOUNDBITE) (English) (SOUNDBITE) (English) DARREN SINDEN, MARKET RESEARCH AND CLIENT RELATIONS MANAGER, ADMIRAL MARKETS UK LIMITED, SAYING: "It obviously raises the prospect of elections at any stage. Snap elections would not be helpful at this point and it could potentially mean a change in government which could mean a change in negotiators and all the good work that's been done over the past three or four months could be undone at a stroke." But it's the country's banks that remain one of the biggest concerns. They're expected to keep capital controls in place for months, until fresh bailout money arrives. The longer it takes, the more critical their condition becomes. A 420 euro weekly limit on cash withdrawals is also choking the economy. Bailout talks get underway this week with labour and pension reforms likely to prove contentious. The negotiations have already been delayed due to security concerns. And some reports suggest the creditors still want more reforms passed by the Greek government before any aid money is released.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Syriza in chaos as Greek talks begin

Monday, July 27, 2015 - 01:31