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> Economy

Reuters: Greek banks closed until Fri.

All eyes on ECB as Greek banking system running on ... fumes

Newsroom July 6 06:41

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Greek banks will remain closed at least until Friday, Reuters quotes four banking sources in the Greek capital as saying on Monday.
The report comes a day after landslide “no” vote in referendum called by the leftist government on the last proposal tabled by creditors — a plan which, however, is now “off the table.”

As such, the pressure to agree on a bailout plan remains, although the government now appears to have more “political capital” with which to negotiate and to ratify any agreement in Parliament.
Banks remained closed all of last week and capital controls imposed a 60-euro per day withdrawal limit per account.

All eyes are now on the ECB, which will decide on whether to raise the ceiling on ELA liquidity for dried up Greek banks.
Reuters notes that banks are struggling to keep ATMs in the country stocked with euros.
“The bank holiday will be extended until Friday or next Monday,” one senior banker told Reuters.

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