Greek Banks extend daily limit on ATMs

July 09, 2015 (LBO) – The government of Greece has extended bank closures and a 66 US dollar daily limit on ATM withdrawals until Monday, Foreign Media reports said.

The European Central Bank has decided not to increase support for Greek banks until the debt crisis is resolved, the report said.

This is ahead of the Greek PM Alexis Tsipras promise to submit “credible” reform plans on Thursday – before a Sunday deadline by the EU to find a solution.

An emergency summit will involve all 28 EU members, not just the 19 Eurozone countries.

European Council President Donald Tusk was quoted as saying that this was now the “most critical moment in the history of the eurozone”.

“The final deadline ends this week,” he said.

Greece is desperate for a third bailout to avoid bankruptcy and possibly crashing out of the euro currency.
The cut was initially imposed on 28 June, after a deadlock in bailout talks with creditors led a rush of withdrawals.

Greece’s last international bailout programme expired on 30 June and it missed an International Monetary Fund (IMF) payment.