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October 15, 2019
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Business Europe World

Greek Banks reopen after three weeks

ATHENS: Long queues outside Greek banks re-appeared Monday morning as the banks of the crisis-hit-country reopened after a shut-down of three weeks.

The financial institutions opened their doors for the first time in three weeks, amid hopes that the beleaguered nation can reach a swift agreement with its international creditors on a bailout of its wrecked economy.

Though banks have resumed their activities but loosened transaction limit.

Greeks are now able to withdraw up to €420 (£290) a week in one transaction, rather than being limited to €60 a day. But restrictions on sending money abroad and other controls have not been lifted and the Athens stock market is closed until further notice.

Athens reached a cash-for-reforms deal aimed at avoiding a debt default and an exit from the Eurozone.
Meanwhile, Germany has said it is prepared to consider further debt concessions to Greece.