The country's banks remain shut for a sixth working day the government tries to limit a drain of deposits despite limits on cash withdrawals at ATMs. All eyes now turn to whether the European Central Bank will increase the amount of credit the banks can draw on to make up for the cash drain. Analysts expect the ECB to not provide more emergency assistance on Monday, meaning Greece might have to tighten its limits on cash withdrawals and transfers from the current 60 euros ($67) a day. If the ECB doesn't increase its help to the banks, it will be impossible for Tsipras to keep his pledge to quickly restore Greece's banking system. The Greek government has vowed to quickly restart negotiations with creditors in other eurozone countries and with the institutions that oversaw the country's bailout: the ECB, European Commission and International Monetary Fund. First Casualty Varoufakis appared to be the first casualty of the vote's fallout. With his brash style and fondness for frequent media appearances, Varoufakis had visibly annoyed many of the eurozone's finance ministers during Greece's debt negotiations. Varoufakis said in a statement he was told shortly after the referendum result that some other eurozone finance ministers and the country's other creditors would appreciate his not attending the ministers' meetings.
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» The country's banks remain shut for a sixth working day ...
The country's banks remain shut for a sixth working day ...
The country's banks remain shut for a sixth working day the government tries to limit a drain of deposits despite limits on cash withdrawals at ATMs. All eyes now turn to whether the European Central Bank will increase the amount of credit the banks can draw on to make up for the cash drain. Analysts expect the ECB to not provide more emergency assistance on Monday, meaning Greece might have to tighten its limits on cash withdrawals and transfers from the current 60 euros ($67) a day. If the ECB doesn't increase its help to the banks, it will be impossible for Tsipras to keep his pledge to quickly restore Greece's banking system. The Greek government has vowed to quickly restart negotiations with creditors in other eurozone countries and with the institutions that oversaw the country's bailout: the ECB, European Commission and International Monetary Fund. First Casualty Varoufakis appared to be the first casualty of the vote's fallout. With his brash style and fondness for frequent media appearances, Varoufakis had visibly annoyed many of the eurozone's finance ministers during Greece's debt negotiations. Varoufakis said in a statement he was told shortly after the referendum result that some other eurozone finance ministers and the country's other creditors would appreciate his not attending the ministers' meetings.