Greek olive farmers demand cash as bank fears grow

Greek Prime Minister Alexis Tsipras leaves Maximos Mansion for a meeting with party leaders at the Presidential Palace in central Athens, Greece, July 6, 2015. REUTERS/Christian Hartmann

LONDON/ATHENS (Reuters) - The cash economy emerging after the closure of Greece's banks is beginning to paralyse the country's vital olive oil industry as farmers demand cash for supplies that distributors are unable to pay.

With the country's lenders at risk of default, Greece's half a million olive growers, many of them small family businesses, fear the banks will raid their accounts and are refusing to accept large payments via bank transfer.