Saturday 3 December 2016

Greece to re-open bank branches for pensioners

Published 30/06/2015 | 07:46

Pensioners waiting outside a closed National Bank branch and hoping to get their pensions argue with a bank employee in Iraklio on the island of Crete
Pensioners waiting outside a closed National Bank branch and hoping to get their pensions argue with a bank employee in Iraklio on the island of Crete
A pensioner becomes emotional outside a closed branch of the national bank of Greece in Athens: nearly 50pc of pensioners live below the poverty line in Greece on pensions of less than €700 per month

Greece will re-open 1,000 bank branches from Wednesday until the end of the week to cater for pensioners who do not use cash cards for automated teller machines, the finance ministry said on Tuesday.

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Banks are expected to remain closed for other purposes until July 6, as part of capital controls imposed this week to prevent a collapse of the banking system after the European Central Bank froze financial support needed to keep the banks afloat.

Although ATMs were reopened on Monday afternoon, many older people who do not use debit or credit cards were unable to collect their pensions.

Pensioners will each be able to withdraw up to €120 this week.

The finance ministry reiterated assurances that bank deposits would remain safe after Sunday's referendum on the terms of a bailout agreement with foreign lenders which the government has rejected.

Reuters

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