Friday 2 December 2016

Greek banks to reopen on Monday after three-week closure

Published 16/07/2015 | 00:17

President of European Central Bank Mario Draghi speaks during a news conference following the meeting of the Governing Council. (AP)
President of European Central Bank Mario Draghi speaks during a news conference following the meeting of the Governing Council. (AP)
Greece's Prime Minister Alexis Tsipras, right, speaks with Finance Minister Euclid Tsakalotos during a parliament meeting in Athens (AP)

Greece's government has said the country's banks will reopen on Monday after being closed for three weeks but cautioned that restrictions on withdrawals would only be lifted gradually.

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Deputy Finance Minister Dimitris Mardas made the announcement on state-run ERT television.

Banks were closed on June 29 to stop mass cash withdrawals from triggering their collapse.

The decision to reopen them was announced hours after the European Central Bank increased its emergency cash support to Greek lenders.

Mr Mardas said banks would probably switch to a more relaxed weekly limit after reopening, instead of imposing a daily ATM withdrawal cap.

Greeks now can only take out 60 euros (£42) a day.

Press Association

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