Greek Banks to Remain Shut Beyond Wednesday – Reuters

Southeast Europe | July 8, 2015, Wednesday // 16:25|  views

A security worker carries cash from a mall in central Athens, Greece, 08 July 2015. The eurozone`s bailout fund, the European Stability Mechanism said it has received a request from Greece for a new aid package. EPA/BGNES

Greece will extend its bank holiday later on Wednesday as the cash-strapped government in Athens struggles to strike a new aid deal with its eurozone partners, Reuters reported.

Banks in Greece have been closed since 29 June after the government broke off bailout talks with the country’s creditors. The government’s move prompted the European Central Bank (ECB) to freeze emergency lending to Greek banks.

Banks were initially expected to reopen on Tuesday. Three options for extension of the bank holiday have been floated in media outlets this week – until Wednesday included, Friday or next Monday.

Since banks were closed Greeks can only withdraw from their accounts up to EUR 60 a day at the ATMs. In the absence of liquidity support from the ECB Greek banks are struggling to keep their ATMs fed with cash as withdrawals continue.


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Tags: greece, government, European Central Bank, ECB, liquidity, bank holiday, ATMs 


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