Louka Katseli

President of the Hellenic Bank Association and National Bank Governor Louka Katseli said that capital controls will probably be lifted from banks at the end of 2015 or early 2016. She stressed the importance of money returning to banks after the 118 billion euros taken out from 2008 through to 2015.

The president of National Bank (NBG), the country’s largest credit institution, on Thursday raised eyebrows by saying that battered Greek banks face four challenges, listing a successful recapitalization as the first, while adding in quick order: “without a haircut of deposits, no matter the level”.

Greek banks reopened July 20 after a three-week shutdown imposed by the government to avert a crash in the banking system over the country's debt crisis.

Capital controls in force since June 29 remain in place, although a daily cash withdrawal limit of 60 euros ($65.03) has now been relaxed.

EU leaders are waiting on Thursday for a fresh reform package to be proposed by Greek Prime Minister Alexis Tsipras that secure a third bailout for his country.

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.

An erroneous Financial Times article on Friday set off an avalanche of panic (again!) after reporting that Greek banks are preparing contingency plans for a possible “bail-in” of deposits due to fear that the country is heading to financial collapse. The article said that at least one bank was making plans for the “haircut” of at least 30% of deposits more than 8,000 euros.

The now embattled Tsipras government has decided to declare a bank holiday … all of next week!
Under that decision, the next open day for banks will be Monday, July 6, a day after an unprecedented call for a referendum.

The head of Greece's biggest bank voiced optimism on Sunday that the country would avoid a default, saying it would be «insane» if there was no deal with creditors.

The clock is ticking for Athens to reach a deal with the European Union and the International Monetary Fund, with a key debt repayment due at the end of the month.

By Roula Salourou

The Finance Ministry is locked in a constant battle to make sure that it has the necessary liquidity for the unhindered payment of salaries and pensions, despite any technical or other problems.

By Yiannis Papadoyiannis

Piraeus Group head Michalis Sallas is poised to become the new president of the Hellenic Bank Association as soon as the administrative changes at the National Bank of Greece are completed.