Greece debt crisis: Banks reopen but ATM withdrawal restrictions remain

Image
ANI London
Last Updated : Jul 20 2015 | 3:48 PM IST

Greece's banks have reportedly reopened three weeks after being shut down amid uncertainty over the country's debt crisis.

The development came after Athens reached a deal aimed at averting a debt default and an exit from the eurozone, reported the BBC.

However, many restrictions, including a block on money transfers abroad and strict limits on withdrawals, remain. Starting Monday, the daily ATM withdrawal limit became a weekly one, capped at 420 euros.

Greeks will also have to face price rises with an increase in Value Added Tax (VAT).

Meanwhile, Germany has said that it is ready to consider providing further debt relief to Greece.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 20 2015 | 3:16 PM IST

Next Story