Greek banks to remain closed till Monday

  • 09/07/2015
The banks have been closed since June 28, with withdrawals by Greeks limited to €60 (AAP)
The banks have been closed since June 28, with withdrawals by Greeks limited to €60 (AAP)

Greek banks will remain closed until Monday, the finance ministry says as the government races to come up with a new proposal to present to creditors in a last-minute drive to avert a eurozone exit.

"The bank holiday is extended to July 13," the finance ministry said in a statement on Wednesday. A ministry source also told AFP withdrawal limits would remain unchanged.

The banks have been closed since June 28, with withdrawals by Greeks limited to €60 (NZ$98) to stave off a liquidity shortage after the government called a referendum on EU-IMF creditors' terms for an international bailout.

The referendum turned out a 61-percent result against the creditors' latest bailout proposals, souring relations between Athens and many of its European peers.

Speaking before the European Parliament earlier on Wednesday, Prime Minister Alexis Tsipras vowed to present "credible" reform plans before a Thursday deadline (local time) set by exasperated European leaders.

The capital controls have kept Greek banks going but authorities have struggled to keep ATMs supplied with cash, and additional obstacles to imports have led to fears of shortages in goods and medicine.

AFP