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Greek government issues decree on banks' reopening

Greek government issues decree on banks' reopening
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The Greek government has issued a decree ordering banks to reopen on Monday, three weeks after they were closed amid the country’s debt crisis.

The amount of money Greeks can withdraw is to be made slightly more flexible: with a maximum of 420 euros a week in place of the current strict limit of 60 euros a day.

But other capital controls including restrictions on transfers abroad remain.

News that banks are to reopen was first reported on Thursday night but has now been confirmed by the first act of the new cabinet.

It follows the announcement of an emergency cash boost from the European Central Bank, as well as bridging loans worth 7 billion euros approved by eurozone finance ministers.

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