07:42 GMT10 July 2020
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    Government spokesman Gavriil Sakellaridis says Greece will send a request to ECB on Sunday to allocate cash for Greek banks.

    ATHENS (Sputnik) — Greece will send a request to the European Central Bank (ECB) on Sunday to allocate cash for Greek banks, government spokesman Gavriil Sakellaridis said.

    The ECB ceased liquidity allocation for Greek banks following last week’s announcement by Greece of a referendum on whether to accept the bailout terms offered by Greece's international creditors.

    "Tomorrow [on Monday], the ECB board of directors will assemble. The Bank of Greece today [on Sunday] will send a request for cash allocation," Sakellaridis told ANT1 TV network.

    On Friday, the Greek Finance Ministry said that banks had sufficient liquidity to last until Tuesday. The country’s authorities announced bank holiday between June 29 and July 6, pledging to make a decision on reopening banks on Sunday.

    Earlier in the day, Greece held a nationwide vote that followed Athens' failure to unlock financial aid from its creditors.

    On June 30, Greece defaulted on its debt to the International Monetary Fund (IMF) after failing to make a $1.7-billion loan repayment before the bailout program expiry.

    The country owes about $270 billion to its main international creditors, comprising the IMF, the European Central Bank and several Eurozone nations.

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    Tags:
    debt, loan agreement, bailout, referendum, International Monetary Fund, The European Central Bank (ECB), Greece
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