Greek Banks Reopen after 3-Week Shutdown

Southeast Europe | July 20, 2015, Monday // 09:21|  views

Photo by EPA/BGNES

Greek banks reopen Monday after a three-week closure aimed at preventing a financial collapse.

Under a decree issued on Saturday, Greeks will be able to deposit checks and access safe deposit boxes.

Greeks will be able to withdraw a maximum of EUR 420 a week instead of EUR 60 a day, but the restrictions on transfers abroad and other capital controls remain in place, according to reports of Bloomberg.

Athens reached agreement with its international creditors last week, in a cash-for-reforms deal that helped Greece avoid exiting the eurozone.

The Athens Stock Exchange, which closed on June 29, will not resume operations on Monday.

According to the Spokesperson of the Athens Stock Exchange, the decree allowing Greek banks to reopen does not apply to the bourse.

The decree permits Greeks studying abroad to transfer up to EUR 5000 abroad per trimester, while people using healthcare services abroad may access up to EUR 2000 in cash.

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Tags: Greek crisis, ATM, banking system


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