Bulgarian Leva, Turkish Lira Are Gaining Currency In Greece: FT

Many Greek businesses are accepting the Bulgarian leva and Turkish lira as tourism plummets and capital controls limit businesses' access to euros, the Financial Times reported Thursday. Acceptance of neighbors' currencies has become common, especially in the retail and tourism industry. Last-minute bookings have fallen between 30% and 40% compared with the same period last year, according to Greece's tourism confederation. "There is nothing bad in accepting Bulgarian leva because it is stable and pegged to the euro so why not accept to do business with it? It is legal. There is no reason not to accept," said supermarket owner Athanasos Kritsinis, according to the FT. Greece's international creditors have received a proposal of reform measures from the country's leaders, Eurogroup President Jeroen Dijsselbloem said Thursday. European leaders will then vote on whether to grant Greece a third bailout on Sunday, after examining the proposals over the weekend. Greece's neighbors are fearful that a Greek exit from the eurozone could destabilize their own economies, The Wall Street Journal reported on Thursday.