Greek banks to remain closed until Monday

Baku, July 9, AZERTAC

Greece's "bank holiday" has been extended for another three working days and will remain closed until Monday, July 13, according to a ministerial decision issued late Wednesday. Greek banks are expected to open as of Tuesday, July 14.

According to Greek daily Kathimerini, bank officials estimate that the existing liquidity will suffice with the capital controls until Monday. However, they expect difficulties to appear unless the European Central Bank increases the limit of emergency liquidity assistance (ELA) on that day.

The bank officials underlined that if Greece does not come to an agreement with its creditors and ELA does not increase, it will be unlikely that Greeks will be able to withdraw even the 60 euros limit per bank account per day from ATMs as of Monday.

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