Greek banks have only €1 bln liquidity

The head of Greece's banking association says Greek banks have 1 bln euro liquidity cushion

Greek banks have only €1 bln liquidity

World Bulletin / News Desk 

Greek banks have a "liquidity cushion" of 1 billion euros but funds beyond Monday depend on the European Central Bank, the head of Greece's banking association said on Friday.

Greeks banks were shuttered on Monday for a week after the collapse of negotiations on a new aid deal to keep the country afloat, triggered by a government decision to call a referendum on the bailout terms.

"Liquidity is assured until Monday, thereafter it will depend on the ECB decision," Louka Katseli told reporters. "The liquidity cushion we have is about 1 billion."

Last Mod: 03 Temmuz 2015, 18:00
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