A Greek orthodox priest prepares to use an ATM outside a National Bank branch at the city of Iraklio in the island of Crete, Greece July 10, 2015. REUTERS/Stefanos Rapanis
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Greece's banks will need an estimated 10 to 14 billion euros of fresh capital to keep them afloat and more time before they reopen even if a deal is reached with European creditors Sunday, a senior Greek banker told Reuters Friday.Shut for two weeks, banks have relied on an ECB-approved emergency credit line from the domestic central bank to dispense rationed cash and are due to reopen Tuesday, barring another extension of the bank holiday.Despite their having bled more than 34 billion euros of deposits since December and Greece's worsening economic outlook, banks are optimistic that branches can be reopened by the end of next week, the banker said.Banks expect that a deal Sunday will prompt the ECB to pump liquidity into the system and raise the cap of emergency liquidity assistance (ELA) from a current 89 billion euros, allowing banks to draw funding from the Bank of Greece.
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