Greek banks expected to reopen next week if agreement is reached, need recapitalization

FXStreet (Córdoba) - Greek banks are expected to reopen by the end of next week if institutions approve Greek bailout proposal on Sunday, according to a senior banking source via Reuters.

Greek banks have remaining liquidity of approximately €750 million that will last until Monday night, with ATM outflows averaging about € 80-100 million a day.

Even if a deal between Greece and its creditors is finally reached, Greek banks will still need recapitalisation of around €10-14 billion.

Meanwhile, Greece’s brand new finance minister Euclid Tsakalotos stated that Greek capital controls can be quickly reversed.