Tag Archives: bank holiday

All branches of Greek banks re-opened on Monday after three weeks enforced holiday imposed on June 29th 2015. While banks broaden their services, capital controls remain valid. The low daily withdrawal limit remains €60 per day, however depositors will have the option to withdraw up to €420 cumulative per week. …

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“The European Central Bank will increase Emergency Liquidity Assistance for Greek banks today,” chief Mario Draghi said during a press conference on Thursday. The much expected decision comes after the ECB froze ELA on June 26th 2015 enforcing the Greek government and the Bank of Greece to impose  bank holiday …

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Greek Finance Ministry extended the bank holiday to July 16th 2015 and also expanded bank services and operations. In a statement released on Tuesday night, the Finance Ministry said: Bank holiday is extended up to July 16, 2015, while expanding banking operations by the new legislative act published on 07.14.2015 …

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Former Finance Minister Yanis Varoufakis had a plan: once the ECB forced Greece’s banks to close, he could act unilaterally and 1. issue IOUs 2. apply a ‘haircut’ to the Greek bonds issued to the ECB in 2012, 3. reducing Greece’s debt and 4. seize control of the Bank of …

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Greek Finance Ministry announced on 8. July that banks will remain closed until at least midnight on 13 July 2015, that is one day after the EU Summit on Sunday. The Finance Ministry further announced that   * Daily withdrawal from ATM remains at €60. *Pensioners without credit or debit …

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“I have enough cash and enough food at home. Now, I sit and wait,” a friend told me this morning. Anna is extremely worried that creditors will let Greece down with whatever the cost for the society. “They want Greece out of the euro and the EU, whatever the government …

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What has been rumored since the morning, takes a shape in the afternoon: that the cash reserves of Greek banks are shrinking. The rumor started when some pensioners could not withdraw €120 on Friday if they had withdrawn €60 via ATM the day before. The concern increased, when several debit …

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One of Greece’s biggest bakery chains announced it will offer bread free of charge to pensioners, poor, jobless and large families in an effort to help vulnerable society groups to cope with capital controls and bank holiday. According to an announcement by Venetis Bakery, the offer will be valid as …

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During a live interview with private ANT1 TV, Prime Minister Alexis Tsipras commented on tonight’s IMF analysis on Greek debt. “IMF says 30% Debt Relief, 20 years repayment, new finance package. IMF didn’t tell us so during negotiations.” He expressed confidence for an agreement even if the Referendum result is …

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In some bank branch, the first pensioner arrived already short after midnight. The second, half an hour later. The third around 2 in the morning. By 5 am the queues outside the banks in the big cities were already very long. Some pensioners had brought plastic stools and chairs, a …

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Credit ratings agency FITCH downgraded Greek banks to Restricted Default (RD) on Capital Controls imposed on Monday, June 29th 2015. FITCH STATEMENT: “Fitch Ratings has today downgraded Greece-based National Bank of Greece S.A. (NBG), Piraeus Bank, S.A. (Piraeus), Eurobank Ergasias S.A. (Eurobank) and Alpha Bank AE’s (Alpha) Long- and Short-term …

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Flour, sugar, pasta, rice, milk and canned tomatoes, food items that do not expire soon are been hastily removed from the super-market selves and land into the housewife’s basket. “There was quite some queue at the cash register and people had their baskets full of pasta, sugar and flour,” a …

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Passengers may use all public transport means without paying ticket fare until 6th July 2015, that is during the time the banks are closed. According to Alternate Transportation Minister Christos Spirtzis the measure applies to Metro, blue buses, trolley, urban train ISAP but not Proastiakos (Metro from Doukissis Plakentias to/from …

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Below are the capital controls restrictions and exceptions based on information by the finance Ministry given to the media. The Greek Finance Ministry has not issued yet the detailed “guide” through the capital controls and bank holiday, it is expected to be issued later on the day. This short summary …

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Tourists and expats living in Greece will not be affected by the capital controls/ATM withdrawals, the Greek government said in a non-paper early Monday. Holders of credit and debit cards issued by Greek banks are not allowed to withdraw more than €60 daily. The exception from the €60-daily-limit refers to …

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