The Greek government plans to extend the country’s bank holiday for two more days, Reuters reported Monday, citing bankers who spoke with Greece’s deputy finance ministry. Greek banks have been closed since June 29. Greece also imposed capital controls, limiting withdrawals to 60 euros a day. The precise timing of the reopening of the country’s banks, however, will depend on the European Central Bank. Greek banks were forced to close after the ECB capped emergency liquidity assistance for the institutions, and is seen as unlikely to raise the cap at least until the Greek parliament implements reform measures that would clear the way for a formal negotiation of a third bailout, economists say.
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