Christine Lagarde, Managing Director of the International Monetary Fund (IMF), pn Friday reiterated the IMF's position that it was necessary to "restructure Greece's debt to ease the burden".

Greek Alternate Finance Minister Dimitris Mardas on Friday said that all banks will open on Monday offering a wide range of services at their desks, although a 60-euro daily cash restriction will remain.

A government reshuffle is expected to be announced within the day, said sources on Friday.

"Despite the huge political differences, we guarantee Greece's remaining in the Eurozone, said German Chancellor Angela Merkel on Friday.