Greek Banks To Remain Close Until Monday (Maybe)

Reuters: Greek banks to stay closed at least until Friday: bankers

Greece's banks will stay closed at least until Friday, four banking sources said on Monday, as the country tries to reopen bailout negotiations with official creditors and save its financial system from collapse.

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

The crisis has deepened further following Greek voters' rejection in a referendum on Sunday of the terms of the country's international aid bailout, sharply increasing the risk of Greece leaving the euro zone.

WNU Editor: The banks are now entering a second week of being closed .... but the country's economic minister is saying that the banking system will still be secured (see above video). How can the banks be closed .... and we then hear that they are secured ?!?!?! Greece is definitely entering a very strange place if this logic is acceptable. In the meantime .... the Greek banking system is getting ready to raid the deposits of its customers .... Greek banks prepare plan to raid deposits to avert collapse (Gulf News/Financial Times).