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Wednesday, July 8, 2015

Latest Update- Greek Banks will remain closed until Monday, July 13

Latest news on Greece and the Philippines and the world:-Greek Banks will remain closed until Monday July 13. ATMs Will continue Operate with 60 euro per day for the pensioners and for cash card holders. 
After the Greek government had promised that banks would open on Tuesday, July 7, a second bank holiday extension was officially announced on Wednesday and the European Central Bank (ECB) will keep the Emergency Liquidity Assistance (ELA) to Greece at the same level of 88.6 billion euros until Monday.

According to Bloomberg, the ECB Governing Council made the decision in a phone conference on Wednesday and is scheduled to meet again on Monday. The final deadline to reach an agreement between Greece and its creditors is Sunday, July 12.

The first extension was announced on Monday, with banks scheduled to open on Thursday. Banks will now remain closed until Monday, while the daily maximum withdrawal limit will remain at 60 euros. Those on unemployment benefits, pensioners without ΑΤΜ cards and pensioners abroad are eligible to collect an extra 120 euros. The decision was ratified by Deputy Finance Minister Nadia Valavani.

The same bank branches that worked last week will work during the bank holiday as well. 

Web banking transactions will be mostly free, allowing people to pay their bills online. However, they cannot move money to accounts abroad.

Credit and bank cards issued abroad can be used at the ATMs with no restrictions. This will benefit foreign visitors to Greece and the tourist industry. 

For emergency needs, such as importing medicines or sending remittances abroad, the Greek Treasury was creating a Banking Transactions Approval Committee to examine requests on a case-by-case basis.

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