Greek banks to re-open on Monday

Athens, July-19 Greek banks will re-open on Monday with slightly relaxed withdrawal limits but bans on foreign transfers and other capital controls remain in place, according to a government decree published on Saturday.

The move follows last week's announcement by the European Central Bank that it would unblock emergency funding which the crippled Greek banking sector needs to stay afloat after Greece agreed to a tough package of bailout reforms.

The 60 euro daily withdrawal limit set when the banks were closed on June 29 is adjusted to allow bank customers to take out up to 420 euros a week, while holders of Greek bank cards will be able to use them to make payments while they are out of the country.

However bans on moving money out of Greece remain in place along with restrictions on opening new accounts.

Source:TOI