Sunday, July 19, 2015

Greek banks will reopen on Monday after being closed for three weeks due to the strain of liquidity. The government, however, will not lift restrictions on daily cash withdrawals, which amount to €60 per day. Greek authorities have also added a so-called weekly limit which allows depositors, for example, to withdraw €420 on Sunday if they did not take out any money during the whole week. People will not be able to cash checks and get cash abroad with their credit or cash cards. Greek banks have been closed since June 29, when the ECB rejected to raise emergency funding for failing banks because of Greece’s failure to reach an agreement with its creditors.

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