Greece’s government issued a decree, published in the government gazette, late on Monday that requires public bodies to transfer their cash reserves to the Greek central bank. The decree is evidence that there is a rising cash squeeze amid increasing concerns for a Greek default even though Deputy Finance Minister Dimitris Mardas had warned that such a move was on its way, following similar provisions already in existence in the Netherlands, Portugal and England.

To read the list of the 1,500 public groups that will be transfering their funds to the Bank of Greece, CLICK HERE (in Greek)