EUROZONE-GREECE/LIQUIDITY Greek banks have enough liquidity until day after referendum - association

Record ID: 148585

  • Title: EUROZONE-GREECE/LIQUIDITY Greek banks have enough liquidity until day after referendum - association
  • Date: 3rd July 2015
  • Summary: ATHENS, GREECE (JULY 3, 2015) (REUTERS) MEDIA OUTSIDE FINANCE MINISTRY (SOUNDBITE) (Greek) LOUKA KATSELI HEAD OF GREECE'S BANKING ASSOCIATION AND HEAD OF THE NATIONAL BANK OF GREECE, SAYING: "We had a full briefing, there is enough liquidity until the end of the bank holiday. We are waiting for the ECB decision on Monday morning which will determine the framework of how th
  • Embargoed: 18th July 2015 13:00
  • Keywords:
  • Location: Greece
  • Country: Greece
  • Topics: General
  • Reuters ID: LVA1JEP37JMSJH1S0MG28VPE477O
  • Aspect Ratio: 16:9
  • Story Text: Greek banks have a "liquidity cushion" of 1 billion euros but funds beyond Monday depend on the European Central Bank, the head of Greece's banking association, Louka Katseli, told reporters off-camera on Friday (July 3).
    Greeks banks were shuttered on Monday for a week after the collapse of negotiations on a new aid deal to keep the country afloat, triggered by a government decision to call a referendum on the bailout terms.
    "There is enough liquidity until the end of the bank holiday. We are waiting for the ECB decision on Monday morning which will determine the framework of how the banks operate from Tuesday onwards," Louka Katseli told reporters gathered outside the Finance Ministry.
    With banks shuttered all week, cash withdrawals rationed and commerce seizing up, the vote could decide whether Greece gets another last-ditch financial rescue in exchange for more harsh austerity measures or plunges deeper into economic crisis.
    Deputy Prime Minister Yannis Dragasakis assured Greeks the government would not lower the 60 euro a day withdrawal limit imposed last Monday amid speculation it may have to slash it down to 20 euros a day due to fast dwindling cash supplies.
    "There is nothing to announce right now. The system will be up and running for the entire weekend, all the ATMs," Dragasakis said.
    Walking through the media throng, Deputy Finance Minister Dimitris Mardas denied there was talk of a so-called debt haircut or discount, and he told reporters that any decision on whether to reopen the crippled banks will depend on whether the European Central Bank is ready to restore the emergency funding they need to stay afloat.
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