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Greek banks to reopen after 3-week closure

Bank customers will be able to deposit checks, but not cash them, and will not be able to get cash abroad with their credit or cash cards. They will be able to make purchases with the cards.Dimitri Messinis/AP

Bank customers will be able to deposit checks, but not cash them, and will not be able to get cash abroad with their credit or cash cards. They will be able to make purchases with the cards.

Banks in Greece will reopen Monday after a three-week closure amid the country’s deepening debt crisis.

Restrictions will remain in place on withdrawals, with daily limits of $ 65 and a weekly cap of $ 455, government officials said Saturday.

Bank customers will be able to deposit checks, but not cash them, and will not be able to get cash abroad with their credit or cash cards. They will be able to make purchases with the cards.

Greece closed its banks June 29 after the European Central Bank did not increase emergency funding for the failing banks as the country’s second bailout deal with creditors expired.

The move comes as Greek Prime Minister Alexis Tsipras’ new cabinet was sworn in after he expelled 10 dissidents who voted against reforms demanded by international creditors in return for a third bailout package.

The German Parliament cleared the way for talks on a third bailout after Chancellor Angela Merkel warned that failing to try would be reckless and sow chaos. Finland’s legislators gave their approval Thursday, while Austrian lawmakers also backed negotiations.

The Greek Parliament will vote on further austerity measures Wednesday.

With News Wire Services

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Nation / World – NY Daily News

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