Greek banks reopened - Stock market still closed

This morning Greek banks have been reopened at 8 o’clock, local time, after they were closed for three weeks.Limits for withdrawing money will still apply and a capital control will be executed. According to the Regulation of the Greek Government, the limit for money withdrawal during one week is 420 EUR, and the daily limit will still be 60 EUR, stated AFP.Three-week break in the business of Greek banks could cost that country almost 3 billion EUR, not counting unrealized revenue from tourism, the latest study has shown .The new austerity measures should be adopted by the Government until Wednesday or Thursday, and the Greeks can expect the increase of prices which has already begun.There has been a rise of prices of coffee, tea, certain kinds of meat, cocoa, vinegar, salt, flowers, artificial fertilizers, insecticides and others since this morning. Prices will be increased in restaurants, cafes and taxis. VAT will be increased from 13% to 23% on all these groceries. The Athens stock market will still stay closed today, despite the fact that Greek banks have opened their doors after being closed for three weeks. -New Regulation on capital control does not allow us to start working today – said the spokeswoman of the Greek stock market Alexandra Grispou, who is an operator of Athens stock market, informs British newspaper The Guardian.-The stock market could be opened in a few days - stated Evangelos Karacis , the general manager of Beta securities, a company for financial service for ‘Bloomberg’.When it comes to European stock markets, shares have registered this morning a surge in value, approaching closer to the 6-week maximum, where the pan-european index FTSE Eurofirst 300 rose for 0,2% ,while eurozone banks shares have rose for 0,5 %.

Vlada Grčke

Athens Stock Exchange

Greek banks

banks in Greece

Athens

Aleksandra Grispou

Evangelos Karacis

eurozone

FTSE Eurofirst

stock market Athens