Greek banks to reopen Monday with restrictions

by Associated Press |  |  published on July 16, 2015

Greece-MondayATHENS, Greece – Greece’s government says the country’s banks will reopen Monday after being closed for three weeks but cautioned that restrictions on withdrawals would only be lifted gradually. Deputy Finance Minister Dimitris Mardas made in the announcement Thursday evening on state-run ERT television.

Banks were closed 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. Mardas said banks would likely to 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 ($67) a day.

  • Magoo Lew

    If I was a Greek citizen, I’d be there at the bank every day withdrawing all I could. Take it home and put it under the mattress where it will be a lot safer.

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