Greeks will find banks open, but restrictions still in place
ATHENS, Greece (AP) — Greeks will finally see their banks reopen at 8 a.m. local (0500 GMT) Monday morning, but many restrictions on transactions, including cash withdrawals, will remain.
Also, many goods and services will become more expensive as a result of a rise in Value Added Tax approved by Parliament last Thursday, among the first batch of austerity measures demanded by Greece's creditors.
The parliament also agreed to deep reforms in the pension system including a gradual phasing out of all early retirement options.
In a decree published Saturday, the Greek government kept the daily cash withdrawal limit at 60 euros ($65) but added a weekly limit. For example, a depositor who doesn't withdraw cash on Monday can withdraw 120 euros ($130) on Tuesday, and so on, up to 420 euros ($455) a week.
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