Greek banks reopened on Monday after three weeks closed, even with various capital control measures, as the impediment to lift more than 420 euros per week. And the Greek government ordered to repay a loan of 4,200 million euros to the European Central Bank, of which 700 million are interest, and also began to repay the two loans in arrears to the International Monetary Fund (IMF), which together total 2005 million euros.
On the streets, the Greeks queued images before ATMs were replaced with queues at the gates of bank branches. “Things are better than in recent weeks,” he told Reuters Maria Papadopoulou, renovated 62 year old who waited in the queues of Athens. “I came to pay my bills and taxes today. Last week I could not and all this is very tiring for older people like me. “
anticipated up a possible tense atmosphere on the banks. But if you have not seen episodes of agitation or large crowds. There is a considerable number of people, writes AFP, but not an “exceptional turnout.”
Banks are open, but capital controls did not allow the Athens stock exchange returned to activity. The Greeks can not stand checks, just deposit them in your bank account, and continuing restrictions on transfers out of the country and account management.
For this reason, decision to reopen the banks is partly seen as a symbolic gesture. Some Greeks expected more. Grigoris, renovated 70 years, did not get the 300 euros you would be entitled to Friday. “They explained to me that would have to wait until the end of the week,” he told AFP, “desolate” in the agency’s words.
“This is not a normal life” said on Sunday the German Chancellor Angela Merkel, speaking of the banking restrictions in Greece and calling for a rapid conclusion of negotiations for the new loan, which begin this week. On the table for the financing package, which may reach € 86 billion, will be sensitive issues as worsening austerity and the possibility of a Greek debt restructuring.
exhausted Loan
Last week’s agreement with creditors gave a breathing space to Athens as a transition loan worth of 7160 million euros. This amount came on Monday the Greek treasure and in a matter of hours, the Executive used it almost all to repay creditors.
In addition to the loans to the ECB and IMF The Greek Government also had to pay 500 million euros to its own central bank. Altogether, Greece repaid only on Monday about 6800 million euros, according to an official from the Greek Ministry of Finance to Bloomberg.
The money lent by lenders to pay themselves fulfill an essential function: Greece is no longer in compliance with these two entities. In this way, have again access to financing from the IMF and the ECB will continue to fund the liquidity of Greek banks.
The pressure on Athens remains high. Citizens began on Monday to feel the effects of the agreement with creditors on VAT – which increased from 13% to 23% in non-perishable goods and the restoration but also in taxis, on condoms or even at funerals. Some decisions are amazing, as pork is rated at 13% and the cow to 23%, says AFP. The Government expects to achieve annual additional revenue of 2,400 million euros a year from 2016 and 795 million earlier this year.
On Wednesday, the government led by Alexis Tsipras It has another test in Parliament. It is expected that it is again dependent on opposition votes to approve new measures in court and banking sector due to the revolt of several deputies in his party, Syriza,
In the fifth -Thurs, 39 members of Syriza voted against the austerity measures that Tsipras agreed to forward to the European partners, although it has been approved with a large majority – 229 votes in favor against four abstentions and 64 votes against. – with the support of the opposition
If you keep the divisions, the parliamentary support Tsipras Government on Thursday could drop to 123 deputies, a figure that is below the majority of 151 seats and, as he writes Reuters, near the 120 votes that the Greek Constitution requires as the minimum for a minority executive.
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