Greek Banks Almost Out Of Funds: Banking Association

Greece's banks have 1 billion euros ($1.1 billion) to last the weekend, the head of the Greek banking association said Friday.



On Monday, more funding will have to be obtained from the European Central Bank (ECB), Louka Katseli told journalists.



Greek banks, which were shut Monday after negotiations between Greece and its creditors collapsed, are dependent on the emergency loans from the ECB for funds.



The ECB has not yet decided to provide further liquidity to Greek banks.



The EU, the ECB and the Eurogroup are all waiting for the results of a referendum Sunday in which Greeks must vote for or against bailout proposals before making a decision.



Separately, the Greek pharmaceuticals association reported Friday that supplies of drugs and medicines were running low as they are unable to pay suppliers.



On Friday, the Greek high court is to rule on whether the referendum is legally valid or not. - Ankara