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IPFS News Link • Economy - International

Greek banks re-open today, and a lot of people are psyched ......

• Business Insider

Greek banks expect long queues but no major problems when they reopen today for the first time in three weeks, although withdrawals will still be limited and capital controls will remain, senior banking officials said on Sunday.

The cautious reopening of the banks, and an increase in value added tax on restaurant food and public transport from Monday, are aimed at restoring trust inside and outside Greece after an aid-for-reforms deal last week averted bankruptcy.

Prime Minister Alexis Tsipras is trying to turn a corner after bailout terms he reluctantly accepted prompted a rebellion in his leftist Syriza party.


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