Greek banks expected to reopen next week if agreement is reached, need recapitalization

FXStreet (Córdoba) – Greek banks are expected to reopen by the end of next week if institutions approve Greek bailout proposal on Sunday, according to a senior banking source via Reuters.

Greek banks have remaining liquidity of approximately €750 million that will last until Monday night, with ATM outflows averaging about € 80-100 million a day.

Even if a deal between Greece and its creditors is finally reached, Greek banks will still need recapitalisation of around €10-14 billion.

Meanwhile, Greece’s brand new finance minister Euclid Tsakalotos stated that Greek capital controls can be quickly reversed.

Greek banks are expected to reopen by the end of next week if institutions approve Greek bailout proposal on Sunday, according to a senior banking source via Reuters.

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