Athens gradually returns to normal with the reopening of banks. After the shock of the agreement on the European recovery plan, the trauma of the vote in parliament, the split in the government majority and the reshuffle, the week that opens brings the first positive signals on a situation that remains difficult. The government signed the decree today allowing banks to reopen their branches after three weeks of forced closure. Shoot, still today, theVAT increase from 13 to 23% as requested by Brussels. And, still today, the payment of the installment of debt contracted by Athens with the ECB: 4,2 billion in bonds and interest which if not paid would have put the euro system in serious difficulty and which instead the 7 billion bridge loan guaranteed by the Eurogroup and the European Council will make it possible to pay off.
Precisely because of all the deadlines that Athens still has to face (including the new parliamentary passage on Wednesday on the reforms requested by Brussels), the situation remains complex. The return to normalcy of the banking system is in any case a breath of fresh air that eases tension and allows for a slow recovery of economic activities. Precisely to facilitate this reopening, the ECB granted an additional 900 million of ELA (Emergency liquidity assistance) funds to the Greek central bank, to be distributed to the banking system. However, they remain in effect ceiling of 60 euros for daily withdrawals and that of 420 euros per week. Capital transfers abroad are increased to 5.000 euros per semester to unblock import-export activities. For Greek citizens who are abroad, on the other hand, it remains impossible to withdraw money with debit or credit cards but they will be able to use them to make purchases. Finally, remains in force ban on the transfer of capital abroad.
