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Banks to Remain Shut in Greece Until Thursday

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The Greek Finance Ministry decided to extend the 'bank holiday' in the country until the end of Wednesday.

ATHENS (Sputnik) — The Greek Finance Ministry said on Monday that it had decided to extend the 'bank holiday' in the country until the end of Wednesday.

Earlier in the day, ministry officials said that the banks closure would be extended, but did not specify a time frame.

One of the harsh conditions that Greece had to accept this weekend to receive its next bailout package from a group of international creditors to save its crumbling economy was to agree to hand over €50 billion worth of its public assets to an external fund. - Sputnik International
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Greek banks have been closed to avoid liquidity problems as many Greeks started withdrawing cash from ATMs, concerned by the lack of agreement between Athens and its major international creditors.

The government announced the bank holiday on June 29 and restricted cash withdrawals to 60 ($66) per person per day.

Since then, the bank holiday has been extended three times.

A preliminary three-year $95 billion bailout deal, concluded between Greece and its lenders earlier in the day, will inject cash into Greeks banks, providing liquidity.

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