L. Katseli: No ELA on Monday could result in ATM closure

Louka Katseli, Chair of the Greek Banking Association, told private SKAI TV that if there is no solution to Greece receiving Emergency Liquidity Assistance (ELA) from the European Central Bank, then Greek banks would have a problem by Monday.

In another intervention on private MEGA TV she said that the European Central Bank is meeting on Monday morning to decide on the new levels of liquidity. Asked if she can ensure depositsa re safe, Katseli said that the “solvency of banks is controlled by the ECB. The faster we move in solvency and normalcy, the more likely it is that we will avoid disastrous scenarios.”

Greek Deputy Prime Minister Giannis Dragasakis gave reassurances that there would be funds at ATMs throughout the weekend, where people will be able to withdraw as much as 60 euros per day. Dragasakis held a meeting attended by Finance Minister Yanis Varoufais, Alt. Revenue Minister Dimitris Mardas, Greek Banking Association Chairperson Louka Katseli, NBG CEO Leonidas Frangiadakis and bank heads from Greece’s banks.

“Cash flow at ATMs are secure until Monday,” said a chief bank official following the meeting, however did not say what would happen afterwards.
Sources state that 1 bln euros worth of reserves are available. Bank officials gave assurances that the daily withdrawal amount will continue to be at 60 euros per day.