Cyprus Mail

Greek banks still waiting for approval to reopen on Monday

People line up to withdraw cash from an automated teller machine (ATM) outside a National Bank branch in Athens

Greek banks are ready to re-open on Monday but they must first get permission from the central bank and the government, a senior banking source told Reuters, adding that several technical issues needed to be addressed.

Greek lenders have been shut since June 29 after a flood of withdrawals threatened to collapse the banking system. After the European Central Bank, which has kept Greek banks afloat, decided to lift the cap on emergency funding on Thursday, Greece’s deputy finance minister said the banks would re-open next week.

“The banks are ready to open their branches but we have to wait for the final approval from the Central Bank of Greece. There are some technical issues that remain to be resolved, we also have to wait for the government’s approval,” a senior official at the Greek Banking Association told Reuters.

An official at the central bank told Reuters it was working with the government to open as soon as possible.

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