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Greek banks to re-open Monday as Tsipras eyes new start | World | Reuters

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By Karolina Tagaris ATHENS (Reuters) - The Greek government ordered banks http://kenji800.edublogs.o...

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Greek banks to re-open Monday as Tsipras eyes new start | World | Reuters

  1. 1. Greek banks to re-open Monday as Tsipras eyes new start | World | Reuters By Karolina Tagaris ATHENS (Reuters) - The Greek government ordered banks http://kenji800.edublogs.org/2015/05/27/good-oral-hygiene-is-important-the-experts-speak-up/ to open on Monday, three weeks after they were shut down to prevent the system collapsing under a flood of withdrawals, as Prime Minister Alexis Tsipras looked to the start of new bailout talks next week. The decree to re-open the banks came hours after new ministers were sworn in following a cabinet reshuffle in which Tsipras replaced dissident members of his ruling Syriza party following a revolt over the tough bailout terms. In a move that marked a split with the main leftist faction in the ruling Syriza party, Tsipras sacked hardline former Energy Minister Panagiotis Lafazanis and two deputy ministers following a party rebellion in which 39 Syriza lawmakers withheld support from the government over the package. Panos Skourletis, a close Tsipras ally who left the labour ministry to take over the vital energy portfolio, said the reshuffle marked "an adjustment by the government to a new reality". The reshuffle allowed Tsipras to replace cabinet rebels with allies of his own or from his junior coalition partners, the right-wing Independent Greeks party. The first action of the new cabinet was to sign off on a decree to reopen banks on Monday with slightly more flexible withdrawal limits that allow a maximum of 420 euros a week in place of the strict limit of 60 euros a day currently in place. But restrictions on transfers abroad and other capital controls remain in place. The move had been widely expected after the European Central Bank agreed to re-open the emergency credit lines which the tottering Greek banking sector needs to survive. Continued...

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