Major international tour operators are reportedly demanding that Greek resorts and hotels sign “default clauses” in contracts for the looming holiday season, with expanded guarantees to deal with possible “Grexit” or even hikes in VAT rates.

According to the Athens daily “Kathimerini”, under such a clause a foreign tour operator would have the right to cancel a convention, for instance, without owing a cancellation fee – in case of default by the Greek state.

Additionally, representatives of major operators have reportedly tabled additional provisions dealing with the prospect of Greece exiting the euro zone.

Other contract changes eye possible hikes in VAT rates, something the radical government in Athens has – lukewarmly – ruled out, at least until the end of this season.