ECONOMY

Greece set to extend bank holiday for at least a few more days

greece-set-to-extend-bank-holiday-for-at-least-a-few-more-days

Greece’s government plans to extend the closure of banks beyond Monday by at least a few more days, four banking sources said ahead of a meeting between bankers and the finance minister later on Monday.

Last week Greece issued a decree imposing capital controls and ordered banks to shut after the European Central Bank froze a vital financial lifeline following the breakdown of bailout talks between Athens and its foreign creditors.

The decree expires on Monday and the government is expected to issue a new decree to replace it.

"The bank holiday will be extended, until Friday or next Monday," one senior banker told Reuters. [Reuters]