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Banks shut at least till MondayThe government is setting a 1,000-euro limit on the amount of cash travelers can take out of Greece, according to a ministerial decision issued on Wednesday, which also extends the bank holiday by another three working days. This means Greek bank branches will not reopen before Tuesday, July 14.Bank officials estimate that the existing liquidity will suffice with the capital controls until Monday, but stress that difficulties will arise unless the European Central Bank increases the limit of emergency liquidity assistance (ELA) on that day. They add that without an agreement between the government and its creditors, along with an ELA increase, it will be unlikely that ATMs will be able to issue even the 60 euros per bank account as of Monday.If there is an agreement, they say, then the ECB will immediately raise the ELA ceiling while it is also likely banknotes will be sent to Greece. Senior bank sources stress that if there is a deal by Sunday then banks could reopen on Tuesday, but with capital controls remaining in place.
Bank holiday in Greece will be extended - ReutersGreek banks, shuttered for the past two weeks after a flood of withdrawals threatened to collapse the system, will remain closed for now, a finance ministry official says, declining to say when they would be opened again.Athens secured a bailout deal with its creditors overnight but the government must now push a series of reform laws through parliament within days for the agreement to stick. Capital controls are still in place, Greek banks are shut and withdrawals from cash machines rationed."The bank holiday will be extended," the official said.
A bank “holiday” — closed doors — has been extended until Wednesday in crisis-battered and liquidity-starved Greece. Moreover, a cash withdrawal limit remains at 60 euros per day per account, according to the government.
ECB expected to raise ELA limit on Thursday, banks may open from Monday
Greek Prime Minister Alexis Tsipras has said in an interview that the country's banks may not reopen until a bailout deal with the eurozone is finalised, a process that could take at least a month.
Greek banks will remain closed through to Thursday, the finance ministry said ahead of a parliamentary vote over tough austerity measures demanded by Greece's creditors in return for a third bailout.Economy Minister George Stathakis said on Tuesday the country's banks, shut for over two weeks, would not open until the European Central Bank restored funding through its emergency liquidity assistance.
Greek authorities extended the bank holiday until Friday (17/7) and allowed a wider range of bank services
Talks between eurozone ministers on emergency funding to keep Greek banks afloat have begun, hours after the Greek parliament passed tough reforms required for a third bailout deal.The Eurogroup was also due to discuss next steps in negotiating the bailout.Later, the European Central Bank is to consider easing a funding squeeze on Greek banks, allowing them to reopen.
Banks to reopen on Monday, after sudden ECB cash boostThe 900-million-euro increase in the cash available to the Greek credit system and the lifting of the uncertainty with the passage through Parliament of the prior actions required for the third bailout loan pave the way for banks to reopen on Monday, according to sources. The act will likely retain the daily withdrawal limit at 60 euros, but also introduce a weekly ceiling of 300 euros, meaning that customers who have not withdrawn any money for five days can take out 300 euros at once. The European Central Bank unexpectedly raised the limit of the emergency liquidity assistance on Thursday by 900 million euros to 89.5 billion, offering a temporary lifeline to cash-strapped domestic banks.
The cash should tide the banks through another week at least. Greece must now meet a €3.5 billion bond repayment to the ECB on Monday, or its relationship with the ECB could be threatened.If Greece fails to pay, the ECB would be unable to give Greece the money it needs to survive.
A reopening of Greek banks on Monday is not a done deal yet, Austrian central bank governor and ECB Governing Council member Ewald Nowotny said on Friday in a radio interview.
It occurred to me that you were confused Mediterranean Man. Banks are only open to allow pensioners to withdraw their pensions - in alphabetical order. Not a good time to have the surname Omega.I guess the paying in machine was working and that is where you saw no queues. There is no date set yet when banks will be open for business.
Oh - so not open for business - just open for pensioners and a paying in machine. There is talk they will extend the paying in so that people can pay money owed to the state. Now there's a novel idea.
Maximum weekly cash from WednesdayThe government said on Tuesday that it will be allowing bank customers to withdraw the maximum weekly amount of 420 euros on any day of the week, not necessarily on Friday, provided they have not withdrawn any cash for seven consecutive days.
Capital controls: Weekly cash withdrawal limit set to increaseThe capital controls in Greece are gradually being lifted, with a report in the Friday edition of the Avgi newspaper claiming that the weekly withdrawal limit is set to increase.According to the newspaper report the weekly withdrawal limit will increase from 420 to 500 euros. Additionally, the withdrawal cap will be renewed seven days after the account-holder’s last withdrawal, rather than on Friday evening, as is at present.
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Topic: Banks (Read 19706 times)
