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Greek debt crisis: Banks reopen amid tax rise

Greek banks are reopening after three weeks of closures sparked by the deadlock over the country’s debt.

Athens reached a cash-for-reforms deal aimed at avoiding a debt default and an exit from the eurozone.

But several restrictions remain in place, including a block on money transfers abroad, and Greeks also face price rises with an increase in VAT.

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.

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

Source: BBC

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