“The Finance Ministry and the Bank of Greece examine all possibilities and technical details so that banks can open as soon as possible,” says a finance ministry announcement, thereby negating previous reports that Greek banks will open on Monday. Only the branches that now service pensioners without ATM cash cards and offer limited services such as deposits and issuing cash cards. There are about 1,000 such branches all over the country. According to bank officials, there is a number of technical difficulties that prevent the opening of all branches for the limited services that are allowed now and with capital controls still in place. If these technical issues are resolved, then banks might open on Tuesday or Wednesday. The Deputy Finance Minister said he is preparing a new legislative act regarding bank operation from Tuesday on. The new act will be announced during the weekend. Meanwhile, Greek banks received a small cash injection from the European Central Bank that poured 900 million euros to Bank of Greece through the emergency liquidity assistance (ELA) scheme.
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