Greece is to extend the bank holiday for a few more days despite promises that branches would reopen on Tuesday.
It seems that Greece is set to extend the bank holiday for a few more days despite promises that branches would reopen today. Greece Finance minister, Yanis Varoufakis who resigned his post on Monday, had disclosed that banks would open on Tuesday. But an official decree to be issued later will see the bank holiday extended for a few more days.
Greece’s top negotiator in aid talks with creditors, Euclid Tsakalotos, will be sworn in as finance minister a Greek presidency source said. “Tsakalotos will be sworn in with the political oath as finance minister,” the presidency official said.
The Greek people rejected a tough new bailout deal on Sunday, with 61% snubbing demands for further austerity measures. Creditors had wanted more spending cuts in exchange for extending the country’s multibillion euro bailout deal until November.
Greek Prime Minister, Alexis Tsipras called the result a 'victory of democracy' and said the Greek people had made a very brave choice.” Mr. Tsipras met on Monday with the leaders of six of the seven parties represented in Parliament at the presidential palace.
He then spoke to German Chancellor, Angela Merkel and agreed to discuss new proposals on Tuesday. He also chatted on the phone with French President, Francois Hollande and Russian President Vladimir Putin.
Mr. Tsipras has promised to return to the negotiating table to push for better terms from Greece’s creditors – the European Union, International Monetary Fund and European Central Bank. The government said it believes a new bailout deal could be possible with the next 48 hours.