Greece to ‘extend bank holiday beyond Wednesday’

Greece will issue a ministerial decree later on Wednesday to extend a bank holiday that has already lasted for eight working days, a government official said, as Athens seeks to convince sceptical partners for a new aid deal.

“The bank holiday will be extended,” the official said, without providing further details.

Banks are struggling to keep their automated teller machine networks fed with banknotes to dispense cash at the daily withdrawal limit of 60 euros, gradually using up the remaining cash buffer in the system.

Last week Greece issued a decree imposing capital controls and closing its banks after the European Central Bank froze a vital lifeline of emergency funds following the breakdown of bailout talks between Athens and its creditors.

Reuters

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