Greek banks reopen after three-week closure

Banks in Greece opened Monday for the first time in three weeks, media reports said. Capital controls remain in place, and customers are now restricted to withdrawals of 420 euros ($456) a week, rather than the €60 a day previously imposed. Other restrictions, such as on sending money overseas, are still in force. Greek banks have been shuttered since June 29, after the European Central Bank capped emergency liquidity assistance to the institutions. Greece faces a €4.2 billion debt payment to the ECB on Monday, which Athens is expected to repay using an EU bridge loan of €7.16 billion approved on Friday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Leave a Reply