EUROZONE-GREECE/BANKS REOPEN Greek banks reopen with capital controls still in place

Record ID: 146625

  • Title: EUROZONE-GREECE/BANKS REOPEN Greek banks reopen with capital controls still in place
  • Date: 20th July 2015
  • Summary: ATHENS, GREECE (JULY 20, 2015) (REUTERS) SHUTTERS OPENING AT BRANCH OF NATIONAL BANK BANK MANAGER OPENING DOOR, GOING IN MAN PASSING BY NATIONAL BANK BRANCH SIGN READING (English): "NATIONAL BANK" PEOPLE STANDING OUTSIDE DOOR OF BANK / BANK EMPLOYEE SPEAKING TO PEOPLE VARIOUS OF MEN AT CASHPOINTS (SOUNDBITE) (Greek) 61 YEAR-OLD MAN, ANASTASIOS GOULIS, SAYING: "Everyday, li
  • Embargoed: 4th August 2015 13:00
  • Keywords:
  • Location: Greece
  • Country: Greece
  • Topics: General
  • Reuters ID: LVACPPAYZ29KP318PWGT3CZJMTBR
  • Aspect Ratio: 16:9
  • Story Text: Greek banks finally re-opened on Monday (July 20) after a three-week closure to stop the system collapsing under a flood of withdrawals.
    The reopening of banks signalled the first cautious sign of a return to normal after a deal was struck to start talks on a new package of bailout reforms.
    However capital controls will remain, payments and wire transfers abroad will still not be possible and the stock market will also remain closed until further notice.
    Queues formed outside bank branches in central Athens as people waited to take care of business frozen during the three week-long bank holiday.
    For Greeks such as Anastasios Goulis, everyday life remains "quite hard" but the blame lies with European institutions.
    "Why did we end up with closed banks? Considering the situation we were in, they left everything too late. What other option could there be than the bailout?" 75 year-old pensioner Mr. Pavlos said.
    Despite the first steps being made back to pre-crisis life, many Greeks remained pessimistic about the future.
    "The banks will survive one way or another. The issue is, what will happen with us? Me, you, our children? That's the issue. I don't see a light at the end of the tunnel," taxi driver Yannis said.
    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. But they look likely to remain active for the foreseeable future.
    One man, 78-year-old Dimitris Georgizas said that the whole process had been badly managed. He and his wife can only access 60 euros, and not a combined 120 euros daily, because they have a joint account.
    Greeks will be able to deposit cheques but not cash, pay bills as well as have access to safety deposit boxes and withdraw money without an automated teller machine card.
    Bankers said there may be minor disruptions after the three-week interruption but they expected services to resume largely as normal.
    The bank closures were the most visible sign of the crisis that took Greece to the brink of falling out of the euro earlier this month.
    But Prime Minister Alexis Tsipras is eyeing a fresh start and swift talks on the bailout that will keep Greece afloat.
  • Copyright Holder: REUTERS
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