Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2025

Daily Sabah - Latest & Breaking News from Turkey | Istanbul

  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV

Greek banks to reopen Monday with restrictions on withdrawals easing gradually

by

ATHENS Jul 16, 2015 - 12:00 am GMT+3
No Image
by Jul 16, 2015 12:00 am
Greece's finance ministry said in a statement that the Greek banks will reopen Monday after being closed for three weeks but cautioned that restrictions on withdrawals would only be lifted gradually.

The extension was necessary "to protect the Greek financial system and economy because of a lack of liquidity," it said Thursday.


Greece's ANA state news agency, citing anonymous banking sources, said the banks could reopen next Monday.

The ministry's statement and the ANA report came hours after the head of the European Central Bank, Mario Draghi, said a vital cash lifeline to Greece's banks would be boosted.

The ECB's Emergency Liquidity Assistance has been fixed at around 89 billion euros ($99 billion) since late June, but would be now topped up with an additional 900 million euros, Draghi said.

Eurozone countries are moving forward with another bailout of the struggling Greek economy after the parliament in Athens passed the first raft of draconian reforms demanded by its international creditors.


Greece's banks were ordered closed on June 28, a week ahead of a referendum called by Prime Minister Alexis Tsipras that ended up rejecting tough reforms.

However, faced with Grexit, or Greece's exit from the eurozone, Tsipras this week agreed to the reforms in return for the rescue.

The capital controls were necessary to prevent a bank run draining cash out of the country's financial system. As well as closing banks, the controls limit ATM withdrawals to 60 euros. Athens's stock market has also remained closed.
  • shortlink copied
  • Last Update: Jul 20, 2015 1:22 am
    KEYWORDS
    business
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    No Image
    Embargo crisis in Palestine: Children desperate for basic food
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • DS TV
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021