Greek banks will remain closed pending liquidity … – La Razon (Bolivia)

Banks in Greece will be closed in the coming days in anticipation of the European Central Bank (ECB) re-offer liquidity injections, he confirmed to Efe sources of the Greek banking union.

“Banks have sufficient liquidity until next Wednesday”, the day when the ECB will discuss emergency loans to Greek banks, said the same source.

For the time being, will remain so at 60 euros ($ 66) the limit on cash withdrawals at ATMs, as well as the ban on transactions abroad, except for commercial payments approved by a commission special.

It remains, however, unlimited national electronic transactions and cash withdrawals at ATMs with bank cards abroad.

The decision came after the ECB Governing Council decided today again not provide additional liquidity to Greek banks and keep emergency loans up to 89,000 million euros (980,000 million dollars), despite the agreement reached this morning between the Government of Athens and eurozone leaders to begin negotiations on a third rescue.

According to banking sources said, the ECB’s decision not to provide funding Important was mainly due to the fact that Greek banks had liquidity inflows in recent days.

government sources said Efe that banks are still around 350 million euros ( 385.4 million dollars) available, a relatively high figure when you consider that last Thursday there were only 700 million euros (771 million dollars).

This is should, according to the aforementioned sources, the State injected into the banking system, 200 million euros (220 million dollars) for the payment of wages.

This money could be disbursed because the State, in turn, he had unexpected revenue from taxes of many entrepreneurs who, for fear of haircuts on their deposits, chose to settle debts with the IRS.

The ECB is scheduled to hold its next conference call on Wednesday, the day for which the vote is scheduled in the Greek Parliament of the first package of measures agreed this morning between Greece and the eurozone partners.

Analysts based on the assumption that, although banks can be opened in the coming days, capital controls will remain for some time.

Greece today completed its second week corralito, which coincided with the failure of a further payment to the International Monetary Fund (IMF), this time of 500 million euros (550 million dollars).

Until flow the first 7,000 million euros (7.709 million dollars) that eurozone leaders acknowledged as the most immediate need before next Monday, when a payment is due 3,500 million euros (3.854 million dollars) to the ECB, Greece will not be able to return any payment.

With these 7,000 million -supeditados to approval by the Greek Parliament of a first set of prior actions, such as changing the VAT system or the State pensions may face not only the payment to the ECB, but also the debts to the IMF.

On June 30 returns an IMF loan worth 1,600 million euros (1.762 million dollars), to which 500 million euros are added today.

Since then, Greece is in a “delinquent” but not formally defaulted, since the processing of a bankruptcy usually lasts one month process that could stop if in the coming weeks the State complies with its obligations.