Greek pensioners start bank runs after payments delayed

‘Panic descended in Athens on Thursday as Greece’s 2 million pensioners were hit with delays to their monthly state stipend. Pensioners raided their accounts and broke into a board meeting, according to reports.

The Greek government blamed delays to payment on a technical hitch but this was denied by a government insider, who told the FT that state pension funds were still missing several hundred million euros on Tuesday morning.

Greece’s main state social security fund delayed pension payments due Tuesday by almost eight hours. The fund relies on a monthly subsidy from the government to meet its payments.’

Read more: Greek pensioners start bank runs after payments delayed