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Bank clean-up deal may delay lifting of Greek cash controls

Athens wants a quick injection of funds but Germany wants big depositors and bondholders to take a loss
Tuesday, July 28, 2015 - 05:50
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The 420 euro weekly limit on cash withdrawals is choking the Greek economy and borrowers' ability to repay loans. This cash freeze is unlikely to thaw till the issue of the recapitalisation of Greek banks - estimated to cost some 25 billion euros - is settled.

Frankfurt

GREEK banks are set to keep broad cash controls in place for months, until fresh money arrives from Europe and with it a sweeping restructuring, officials believe.

Rehabilitating the country's banks poses a difficult question. Should the eurozone take a stake in the