Greek banks opened for the first time in three weeks on Monday. However, restrictions on money withdrawal and transfers are still in place. Thus, since July 20, the citizens are able to withdraw only 420 euros a week; however, abroad they can pay for purchases using their bank cards.
Last week, the Greek parliament accepted austerity measures in return for financial support from the IMF and European states. The European central bank has raised the funding cap on its backing for Greece's banks. Also, the European Union agreed to give Athens a bridging loan to make debt payments.
This week, it is planned to hold negotiations on a new plan of Athens’ financial support. The talks are expected to be rather tough. Despite a possible reduction in pressure on Greek banks, it will be impossible to restore their work until they are recapitalized.
Greece's Prime Minister Alexis Tsipras reshuffled his cabinet after a rebellion in his party's ranks over the austerity measures. Greek Energy Minister Panagiotis Lafazanis is replaced by former Labor Minister Panos Skourletis.
At the moment, Greece is due to pay €3.5 billion to the European Central Bank. The country needs 86 billion euros to clear its debts.
