Greek Banks Open For Pensioners

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The FINANCIAL — Some Greek banks are expected to reopen on July 1 for pensioners who don’t have debit or credit cards, the finance ministry said in a statement on June 30, according to Nasdaq.

The branches will open despite the closure imposed on Greek banks until July 6 and will only serve pensioners and those who can’t withdraw money from automatic cash machines.

They will be limited to withdrawals of €120 ($134) this week. Currently, there is a daily limit of cash withdrawals of €60 a day from ATMS.

Greece decided at the weekend to shut down its banking system, ordering lenders to stay closed for at least a week to prevent money from flooding out of the country.

The Greek Finance Ministry reiterated assurances that bank deposits will remain safe after Sunday’s referendum.

Over the weekend, Greek Prime Minister Alexis Tsipras shocked European policy makers by announcing the country will hold a referendum on whether to accept the terms of Greece’s creditors to unlock desperately needed financial aid.

 

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