Greece extends Bank Holiday, $66 Daily Limit on ATM withdrawals

The Greek government has extended bank closures and a 60 euro($66) daily limit on ATM withdrawals until Monday, media reported on Thursday. “The bank holiday is extended to July 13,” the finance ministry said in a statement late Wednesday.

The curbs were imposed on June 28 after a deadlock in bailout talks with creditors led a rush of withdrawals, BBC reported. The announcement came after the European Central Bank (ECB) decided not to increase support for Greek banks until the debt crisis is resolved.

Greek Prime Minister Alexis Tsipras has said that he would submit “credible” reform plans on Thursday – ahead of a Sunday deadline by the European Union (EU) to find a solution. European Council President Donald Tusk has said that this was now the “most critical moment in the history of the eurozone”.

“The final deadline ends this week,” he said after emergency talks of the eurozone leaders in Brussels on Tuesday. Greece’s last international bailout programme expired on June 30 and it missed an International Monetary Fund (IMF) payment. (IANS)