Greek council recommends 60-euro limit on ATM withdrawals from Tuesday

The Greek financial stability council has recommended keeping automated teller machines (ATMs) shut on Monday and limiting withdrawals to 60 euros a day once they reopen on Tuesday, a source who took part in the council’s meeting told Reuters.

The recommended limit will apply to holders of Greek bank cards. Foreign card holders will be allowed to withdraw the maximum limit set by their banks, the source said on Sunday.

Prime Minister Alexis Tsipras earlier announced a bank holiday and capital controls after Greeks responded to his surprise call for a referendum on bailout terms by pulling money out of banks.

For the capital controls to take effect, they must be approved by the Greek cabinet and then enacted through a presidential decree.

“The council recommended a bank holiday of six working days until Monday night next week. ATMs will not operate tomorrow, but will open again on Tuesday,” the source said.

[Reuters]