Greek banks likely to remain closed despite deal

July 13, 2015 18:40

Despite today's historice agreement, Greek banks are expected to remain closed this week. The banks are acutely short of cash, and Greek depositors may soon find it difficult to withdraw even small sums from ATMs. To reopen, the banks would need more emergency loans from the European Central Bank. But the bank is unlikely to provide more emergency cash at least until the agreement receives approval from the Greek Parliament on Wednesday.

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