Banks are set to reopen Monday in Greece after a three-week shutdown estimated to have cost the economy some 3.0 billion euros ($3.3 billion) in market shortages and export disruption. On Sunday, July 19, Greece prepared to restart its struggling economy with a revamped government, a bank reboot and a new round of tax hikes agreed after months of fraught confrontation with its creditors. With Greeks now able to withdraw up to 420 euros at once per week, people will be spared the ordeal of queuing daily at ATMs in the summer heat, which thousands did for three weeks for a mere allowance of 60 euros per day. But capital controls remain largely in place, including a block on money transfers to foreign banks and a ban on the opening of new accounts. Greece last week had to agree to a tough fiscal package to earn a three-year bailout from its international creditors and avoid crashing out of the eurozone.
Read more updates on the Greek debt crisis.
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