Greek banks re-open, but crisis far from over

The next stage in the Greek debt crisis has begun. Following the agreement between Greece and its creditors on a three-year bailout plan, the country's banks are open once again. But the crisis is far from over. Ron Sutton has the story.

Greek banks re-open, but crisis far from overGreek banks re-open, but crisis far from over

Greek banks re-open, but crisis far from over

Banks have reopened in Greece as life after the country's economic compromise to remain within the European Union begins.

 

The banks opened their branches across the country after a three-week shutdown to avoid the banking system collapsing while the government negotiated with European leaders.

 

Greeks still are limited to withdrawing just 60 euros per day, but they now can withdraw a week's worth, or 420 euros, at one time instead of waiting in line each day.

 

Tensions remain high in the country as people begin dealing with the terms of the agreement Prime Minister Alexis Tsipras and his Syriza party accepted.

 

Senior citizens will be among those hurting the most, with their pensions set to decrease.

 

But many, like pensioner Alekos Alexakis, feel there was no other choice that made sense.

 

"Look, it's a one-way street. We will be forced to pay and come to terms with these measures. There's no other solution. And I am not a serious voter, I didn't vote for them, but, this time, I'm on their side, and I believe in these measures."

 

Another pensioner, Dora Papalexis, says she is willing to give the government the chance to show it is right and she believes Mr Tsipras can deliver.

 

"It's hard. It's going to be hard. I think he probably will. I hope so. But with the help of the other parties."

 

Greeks will face an increase in the value-added tax on restaurant food and public transport.

 

The block on transferring money to foreign banks remains, and so does a ban on opening new accounts.

 

Greece's creditors -- the European Union, the European Central Bank and the International Monetary Fund -- are expected in Athens next week to assess the economy.

 

It will be their first visit to the country in months.

 

Ahead of the bank openings, emotions were on full display on Sunday in Greece over another element of the agreement -- that Greece allow the opening of shops on Sundays.

 

There were protests and banners outside shops on Athens' main pedestrian shopping street near parliament.

 

Protesters say they feel betrayed by the Prime Minister and his party, which has championed workers' rights in the past and campaigned against Sunday shopping hours.

 

Protest organiser Eleni Lalou made it clear the Tsipras Government is seen differently now.

 

"We want to show our employers that we are on strike and we will protect the picket line, and we want to send a message that we will continue our struggle no matter which government is in power."

 

But a pensioner who identified herself only as Maria walked past the protesters and voiced her distaste for them.

 

"I believe that Tsipras is the only one who will be able to break the unions, and he has to -- for Greece. They don't let us go shopping like everybody else in the world. Who do they think they are? Everybody works on Sundays. When I used to work, I worked every day and even at nights."

 

The agreement came after the Greek people had rejected a less stringent proposed deal in a referendum.

 

Many Syriza parliamentarians have rejected the deal Mr Tsipras agreed to, forcing him to reshuffle his government at the end of last week.

 

Interior Minister Nikos Voutsis says fresh elections are likely in September or October.

 

First, the government will be trying to quickly start further talks with the creditors on details of the agreement.






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