ATHENS: Greece bank branches will reopen on Monday according to sources, the Athens-Macedonian News Agency reported.
The alleged decision follows a European Central Bank (ECB) announcement that increases the Emergency Liquidity Assistance (ELA) to Greek banks by 900 million euros. ELA had been fixed at 88.6 billion euros since June 29.
Up until now there has been a 60 euro maximum daily withdrawal limit.The daily limit will likely stay the same. However, according to reports, depositors will now have the option of not withdrawing the 60 euros each day but instead keeping it in the bank and collecting their total allowance after a day or two. Thus a depositor would be able to withdraw 120 euros or even 180 euros at once rather than wait in an ATM line each day for 60 euros. Greece’s government has yet to make an official announcement.
