Greek Bank Holiday Extended Until July 8


Greek banks will be closed until Wednesday, July 8, after a meeting among Greece’s banks and the Greek Finance Ministry led to the decision to extend the capital controls that have been imposed since June 28.

The decision comes before Monday’s European Central Bank‘s verdict on whether it will increase Emergency Liquidity Assistance (ELA) to Greece, which is currently capped at 89 billion euros.

The daily withdrawal limit will remain at 60 euros. Pensioners who did not collect the 120 euros they were eligible to claim last week can collect it this week. However those that did collect the sum are not eligible to collect again this week, according to Deputy Finance Minister Dimitris Mardas.

“We decided to extent the bank holiday for two days,” said Hellenic Bank Association President Louka Katseli. “If there is an ECB decision that allows us to change something for pensioners, we will change it. The goal is the normalization of the market.”

The same bank branches that worked last week will work during the bank holiday as well. Mardas said that there will soon be a New Act of Legislative Content on the matter.