Cyprus Mail
Greece

Greek banks to stay shut for now, finance ministry says

Sixty Euros, the maximum amount allowed after the imposed capital controls in Greek banks, are seen during a withdrawal operation at a bank branch ATM in central Athens

Greek banks, shuttered for the past two weeks after a flood of withdrawals threatened to collapse the system, will remain closed for now, a finance ministry official said on Monday, declining to say when they would be opened again.

Athens secured a bailout deal with its creditors overnight but the government must now push a series of reform laws through parliament within days for the agreement to stick. Capital controls are still in place, Greek banks are shut and withdrawals from cash machines rationed.

“The bank holiday will be extended,” the official said.

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