Former caretaker prime minister Panagiotis Pikrammenos has explained that the administration he was in charge of had prepared plans to shut down Greece’s banking system if elections in 2012 could not produce a government, Ekathimerini.com reported. Two ballots were held in May and June of 2012, with the second one eventually resulting in a three-party government led by New Democracy. “We were on the verge of bankruptcy,” Pikrammenos told Skai in an interview. “If elections [had] failed to yield a clear result, we would [have] shut down the banks. Cash withdrawals were through the roof and money had run out,” he said. Pikrammenos said the plan had not been discussed with European officials. He added that German Chancellor Angela Merkel did not raise the prospect of a Greek euro exit at the EU summit held at the time. Read more.