Greek Banks Could Run Out of Cash in Next Two Days: Sources

Greek banks could start to run out of cash over the next two days if creditors do not agree to a new aid deal.

Published: 08th July 2015 01:17 AM  |   Last Updated: 08th July 2015 01:17 AM   |  A+A-


A woman walks by a closed Eurobank branch spray-painted with a NO graffiti in Athens. | Reuters

LONDON/ATHENS: Greek banks could start to run out of cash over the next two days if creditors do not agree to a new aid deal, two sources familiar with the country's financial system said on Tuesday.

With withdrawals from cash machines rationed to a maximum of 60 euros a day and the banks shut since last week, supplies of banknotes have been dwindling fast.

One source familiar with the country's banking system said he expected some ATM machines to start running out of money by Wednesday while the other source, a banker in Greece, said there could be two-days' worth of money left in the system.

"Cash is going to be a real problem at the ATMs tomorrow," the first source said, speaking on the condition of anonymity. "The 60 euros a day has really prolonged the life of the ATMs but actually things are looking to be much more challenging from tomorrow."

The second source, a senior banker in a Greek bank who also spoke on the condition of anonymity, said the country's cash system would grind to a halt if the Greek Prime Minister Alexis Tsipras could not seal a deal in the coming days.

Tsipras launched a fresh bid to win new funds from sceptical creditors at an emergency euro zone summit on Tuesday.

"I don’t know if the ATMs will run out of money on Wednesday or Thursday night, but if we don’t have a deal or an interim deal with Europeans we will run out of banknotes in 2 to 3 days," the banker told Reuters.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp