Monday 20 July 2015

The Greek Banks Reopened




 The Greek banks were closed for three weeks because the Greek government and the Eurozone couldn’t reach and agreement over the country’s debt but they are finally reopening amid a tax rise.
Athens reached a cash-for-reforms deal aimed at avoiding a debt default and an exit from the eurozone.
But many restrictions remain and Greeks also face price rises with an increase in Value Added Tax (VAT).
Germany has said it may consider further debt concessions to Greece.
Greece was making a €4.2bn (£3bn) payment due to the European Central Bank (ECB) on Monday, as well as €2.05bn in arrears to the International Monetary Fund (IMF).
The IMF later confirmed the money had been paid and that Greece was "therefore no longer in arrears".

From Monday, the daily limit becomes a weekly one, capped at €420 (£291), meaning Greeks will not have to queue every day.
An architect told the BBC that the banks re-opening will make only a small difference to his ability to operate.
"The key challenge is that we cannot pay our suppliers, which meansthat we will eventually run out of products to sell," said Vassilis Masselos.

6 comments:

  1. Greek banks reopened won't make huge difference.

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  2. Very Good and important information.

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  3. And the money in circulation in Greece climbed historical peak.

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  4. Things are not yet back to normal.

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