Greek Banks to Reopen on Monday



Stressed-Greek-BanksGreek bank branches will reopen on Monday according to sources, the Athens-Macedonian News Agency reported.

The alleged decision follows a European Central Bank (ECB) announcement that increases the Emergency Liquidity Assistance (ELA) to Greek banks by 900 million euros. ELA had been fixed at 88.6 billion euros since June 29.

Up until now there has been a 60 euro maximum daily withdrawal limit.

The daily limit will likely stay the same. However, according to reports, depositors will now have the option of not withdrawing the 60 euros each day but instead keeping it in the bank and collecting their total allowance after a day or two. Thus a depositor would be able to withdraw 120 euros or even 180 euros at once rather than wait in an ATM line each day for 60 euros.

Greece’s government has yet to make an official announcement.


2 COMMENTS

  1. “…a depositor would be able to withdraw 120 euros or even 180 euros at once rather than wait in an ATM line each day.”

    This does not seem to be written with any irony, whereas in fact it would be laughable were it not tragic. The Troika has failed to open up banking for international transactions, which are essential for the greek economy to stand any chance at all. 900 million is a drop in the ocean: the ECB should have stated that it will do whatever it takes, as Greece has conceded everything that the Nazis demand. Instead, this pathetic amount?

    Sorry, but these guys are just covering their asses. If they did nothing (as they originally announced) they could be prosecuted for dereliction of duty. They have no intention of allowing Greece to stabilise; they are concerned about future criminal prosecution of the ECB directors.

  2. Is Tsipras also restricted to withdrawing €60 a day? Silly me, I forgot he was paid off by the EuroGang when he signed off on the new agreement.

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