Greek banks reopen three weeks after total shutdown

July 20, 2015 10:14

ATHENS - Greeks queued outside banks on Monday as they reopened three weeks after closing to stop the system collapsing under a flood of withdrawals, the first cautious sign of a return to normal after a deal to start talks on a new package of bailout reforms.

However capital controls will remain and payments and wire transfers abroad will still not be possible - a situation which German Chancellor Angela Merkel said on Sunday was "not a normal life" and warranted swift negotiations on a new bailout.

Limits on cash withdrawals have been made slightly more flexible, with a weekly limit of 420 euros in place of the daily 60 euro limit previously.

"Capital controls and restrictions on withdrawals will remain in place but we are entering a new stage which we all hope will be one of normality," said Louka Katseli, head of the Greek bank association.

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