Greek banks reopening, no withdrawals allowed - WAOW - Newsline 9, Wausau News, Weather, Sports

Greek banks reopening, no withdrawals allowed


ATHENS, Greece (AP) -- Greek banks are going to reopen Monday after being closed for three weeks but there's one catch -- customers can't actually withdraw money except at ATMs.

Deputy Finance Minister Dimitris Mardas says bank customers "can deposit cash, they can transfer money from one account to the other" but withdrawal restrictions will remain.

Customers can still only take out 60 euros ($67) a day in cash. But Mardas says Greek authorities are working on a plan to allow people rollover access to their funds so if they don't make it to a cash machine one day, the next day they can take out 120 euros.

He promised more detailed information on the continued withdrawal restrictions over the weekend.

U.S. Treasury Secretary Jacob Lew is urging Greece's creditors to make sure the struggling country emerges from negotiations with debts it can manage.

The International Monetary Fund has already labeled Greece's debts unsustainable and called for generous debt relief.

Lew met Thursday with German Finance Minister Wolfgang Schaueble in Berlin and French Finance Minister Michel Sapin in Paris. He expressed support for the Greek debt deal, saying it restores trust between Greece and its creditors and could help keep Greece in the common euro currency.

Lew, in telephone calls with Greek Prime Minister Alexis Tsipras and Finance Minister Euclid Tsakalotos, urged the Greeks to "fully" implement the budget cuts and economic reforms they had agreed to.

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