Greece: banks will reopen Monday, withdrawals slightly relaxed – Le Parisien

18 Jul 2015, 3:00 p.m. |. Update: July 18, 2015, 6:37 p.m.

The Greek government decided to reopen the banks starting Monday After three weeks of closure. Illustration. (AFP / IAKOVOS HATZISTAVROU)

J-2 before the reopening of Greek banks. These will reopen on Monday, but the restrictions on withdrawals and certain financial transactions will only slightly eased. The decision to maintain restrictions, taken by the new government Tsipras, is intended to prevent cascading failures of Greek banks.

• Re-opening of Greek banks from Monday and eased slightly restrictions

 

Greek banks, closed since June 29, indeed reopen Monday, according to a decree of the new government appeared Saturday. The ceiling of 60 euros per day will be back however lifted. The Greeks will be able to withdraw larger amounts per day but the weekly cap remains at 420 euros a week for now.

The capital controls remain in place, that is to say that the Greeks can not transfer money abroad or out large sums in cash or open new accounts in their country. Exceptions have, however, been provided. It will be possible to make transfers of up to 5 000 per quarter for young Greeks studying abroad. The Greeks receiving medical care abroad can leave them 2,000 euros in the country.

This set of constraints must prevent cascading failures of Greek banks. But these locks are strangling the economy. Capital controls have already cost 3 billion euros to Greece, out of the tourism sector, according to the center-right newspaper Kathimerini.

• The new government ministers were sworn in

 

The new Greek government ministers were sworn in on Saturday after a reshuffle intended to affirm the authority of Alexis Tsipras, while obstacles continues to race to banish the risk of a euro exit. The Prime Minister particularly replaced three ministers who came to disavow the Parliament. The redesign, counting game musical chairs internal to the executive, involves a total of ten ministries.

• Wolfgang Schäuble evokes resignation if negotiations with Greece are not going in his direction

 

The German Finance Minister Wolfgang Schaeuble hinted Saturday that he did not rule out the possibility of dismissal if further negotiations with Athens did not take the turn he heard, in an interview Der Spiegel. Questioned in its Saturday edition by the German magazine about differences of opinions emerged “these last weeks” on the Greek case between him and Chancellor Angela Merkel, defending a line softer face in Athens, the great German financier has acknowledged “differences of opinion”.

“This is part of democracy,” said Mr Schäuble, renowned for its hardness face radical left government of Alexis Tsipras. “And then we struggle together to find solutions. Everyone has a role to play. Chancellor Angela Merkel, Finance Minister I am, “he says, adding:” derive their political responsibilities of their duties. People can not force them. If someone tried, I could go to the President [German Joachim Gauck] and request my dismissal. “