17 December 2018
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Greek debt crisis: Banks to reopen after three-week shutdown

bank greeceGreek banks are set to reopen after three weeks of closures sparked by the deadlock over the country's debt.

Athens reached agreement with its international creditors last week, in a cash-for-reforms deal that helped Greece avoid exiting the eurozone.

But several restrictions remain in place, and Greeks also face price rises with an increase in Value Added Tax.

Meanwhile Germany has said it is prepared to consider further debt concessions to Greece.

What's in the bailout deal?
Would a Grexit have been better?

Queues at ATMs have been a feature of life in Greece for weeks, with people waiting in line each day to withdraw a maximum of €60 (£41) a day, a restriction imposed amid fears of a run on banks.

From Monday, the daily limit becomes a weekly one, capped at €420 (£291), meaning Greeks will not have to queue every day.

Greece's recession
While banks throwing opening their doors marks the return of some normality to the Greek economy, long-term problems remain.

Unemployment is stubbornly high, and as this chart shows, Greece's recession is comparable to one of history's most famous economic crashes.

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