European Parliament Passes Law to Restrict Cash Payments to €10,000
The European Parliament has voted to impose a €10,000 limit on cash payments within the European Union
Banks in Greece will reopen on Monday, Greek news agency ANA-MPA reported on Thursday, citing banking sources.
The daily limit of EUR 60 for cash withdrawals will remain in force but account holders will now be able to skip going to an ATM one day and withdraw EUR 120 the following day.
The change aims to cut queues at bank branches and ATMs, ANA-MPA said.
News of the possible reopening of Greek banks after a three-week pause came after the European Central Bank (ECB) announced earlier on Thursday it had decided to increase the ceiling of its Emergency Liquidity Assistance for Greek banks by EUR 900 M. The emergency funding for Greek banks has been frozen at some EUR 89 B since late June.
The ECB decision followed the approval of the bailout-for-reforms deal in the Greek Parliament and an agreement in principle reached by Eurozone finance ministers to grant a EUR 7 B bridge loan to Greece.
The increase in ECB emergency lending to Greece is meant to help meet the banks’ needs over one week.
Greece's government announced a bank holiday, put a limit on daily cash withdrawal limit for citizens and introduced capital controls at the end of June to stave off economic collapse in the absence of a new bailout funding agreement with the country’s international creditors.
A ministerial decision on the bank holiday could come later on Thursday.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The presidential election landscape in North Macedonia is poised for a runoff between Gordana Siljanovska, representing VMRO-DPMNE, and Stevo Pendarovski, backed by SDSM
A damning report from the US State Department has unveiled a troubling reality of systematic racial and ethnic violence and discrimination against Bulgarians in the Republic of North Macedonia
The debate surrounding the inclusion of Bulgarians in North Macedonia's constitution, a crucial precondition for the country's European Union accession talks, has taken center stage in the ongoing presidential campaign
Amid escalating tensions on its borders and a significant increase in the Ministry of National Defense budget, Romania is discreetly preparing for the reintroduction of compulsory military service
In a strategic move aimed at bolstering their defense capabilities, Romania and South Korea have embarked on negotiations for joint arms production, signaling a significant milestone in their bilateral relations
Romania is making strides toward joining the Visa Waiver Program, a significant milestone that would enable its citizens to travel to the United States visa-free for up to 90 days
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022