- Title: EUROZONE-GREECE/BANKS Frustration in Greek bank queues
- Date: 21st July 2015
- Summary: ATHENS, GREECE (JULY 21, 2015) (REUTERS) PEOPLE QUEUING AT CASH MACHINES/ WOMAN ENTERING BANK VARIOUS OF PEOPLE QUEUING AT CASH MACHINES MAN OPENING DOOR AND ENTERING BANK PEOPLE EXITING BANK VARIOUS OF PEOPLE ENTERING BANK (SOUNDBITE) (Greek) BANK USER, GIORGOS KOTSANIS, SAYING: "People are disappointed. I can't really tell... It's bad, really bad. We've never been like t
- Embargoed: 5th August 2015 13:00
- Keywords:
- Location: Greece
- Country: Greece
- Topics: General
- Reuters ID: LVAB71V4VG7WRLAKSC90TQM9QIKS
- Aspect Ratio: 16:9
- Story Text: One day after Greece reopened its banks following a three-week shutdown, many of those waiting in line on Tuesday (July 21) said they remained frustrated and disappointed.
Greek banks reopened their doors and Athens ordered billions of euros owed to international creditors to be repaid on Monday (July 20), in the first signs of a return to normal after last week's deal to agree a tough new package of bailout reforms.
Customers queued up as bank branches opened for the first time in three weeks on Monday, after they were closed to save the system from collapsing under a flood of withdrawals.
Although queues to enter branches were shorter on Tuesday, many of those waiting in line in the searing heat were angry, disappointed and frustrated.
"People are disappointed. I can't really tell... It's bad, really bad. We've never been like this before," said 85-year-old Giorgos Kotsanis.
"They're saying we can get 60 euros but we can only get 50. Us senior citizens have grown tired of doing this every day. I don't know what we're going to do," said 63-year-old, Liza.
For businessman Giorgos, who imports motor oil, the capital controls are affecting his ability to buy abroad.
"As an ordinary citizen, I am able to carry on my daily routine. But as a businessman, it's not easy for me to import commodities," he said.
Limits on cash withdrawals remain in place, at 420 euros ($455) per week instead of 60 euros per day previously, and payments and wire transfers abroad are still not possible, a situation German Chancellor Angela Merkel said on Sunday was "not a normal life" and warranted swift negotiations on a new bailout, expected to be worth up to 86 billion euros.
For many of Greece's pensioners, the limits make life even harder.
"This law that they've made, that people will go every Friday to get all the money together - how will this work? You should be able to get 300 euros once a week, on Monday or Tuesday, you should be able to get this money. But they allow it only on Friday, so the money will stay in the banks. Which 80 or 90-year-old will wait in line to get their money?" asked 81-year-old Yannis.
"Whatever I can get, like 320 euros, on Friday. I can't get all my pension at once. That's what I can get. I'm forced into getting just that amount. It's not Europe that's to blame. We can only blame ourselves. I only carry five euros in my wallet. It's impossible. I've been working and no one has ever given me money as a gift," said 65-year-old Sofia Papadopoulou.
Increases in value added tax (VAT) agreed under the bailout terms also took effect on Monday, with VAT on processed food and public transport jumping from 13 to 23 percent. The stock market remained closed until further notice.
The bank closures were the most visible sign of the crisis that took Greece to the brink of a euro exit earlier this month, potentially undermining the foundations of the single European currency.
Their reopening followed Prime Minister Alexis Tsipras' reluctant acceptance of a tough package of bailout demands from international lenders. But a revolt in his ruling Syriza party now threatens the stability of his government and officials say new elections may be held as early as September or October. - Copyright Holder: REUTERS
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