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World|business|July 20, 2015 / 11:46 AM
Greek banks reopen after three-week shutdown

AKIPRESS.COM - bankGreek banks are reopening after three weeks of closures sparked by the deadlock over the country's debt.

Athens reached agreement with its international creditors last week, in a cash-for-reforms deal that helped Greece avoid exiting the eurozone.

But several restrictions remain in place, and Greeks also face price rises with an increase in Value Added Tax.

Meanwhile Germany has said it is prepared to consider further debt concessions to Greece.

Queues at ATMs have been a feature of life in Greece for weeks, with people waiting in line each day to withdraw a maximum of €60 (£41) a day, a restriction imposed amid fears of a run on banks, reports BBC.

From Monday, the daily limit becomes a weekly one, capped at €420 (£291), meaning Greeks will not have to queue every day.

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