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Greek banks to re-open Monday as Tsipras reshuffles cabinet

Saturday, July 18, 2015 - 01:24

The Greek government ordered banks to open on Monday, three weeks after they were shut down to prevent the system collapsing under a flood of withdrawals, as Prime Minister Alexis Tsipras looks to the start of new bailout talks. Pavithra George reports.

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Out with the old, in with the new - Greek Prime Minister Alexis Tsipras reshuffled his cabinet after he sacked ministers in his ruling Syriza party who voted against austerity measures required for a third bailout package. Saturday's swearing-in ceremony comes before a fresh round of bailout talks next week to keep this debt-ridden country in the eurozone. The new cabinet's first task - reopening banks on Monday, three weeks after they were shut down - this time with more flexible withdrawal limits - a maximum of 420 euros a week instead of the current limit of 60 euros a day. For some debt-weary Greek residents, the bailout deal is too little, too late. (SOUNDBITE)(Greek) ATHENS RESIDENT, GIORGOS KAMILAS, UNEMPLOYED, AGED 45, SAYING: "I think they will be able to pass these measures, but this government has crushed our hopes, so many people voted for them, and now their hopes have been crushed. So they will pass these measures, but they will soon fall because they lied too much." (SOUNDBITE)(Greek) ATHENS RESIDENT, KONSTANTINOS VASILAKIS, A PENSIONER, SAYING: "We shall see. The money is all gone, we need to adjust to reality and get to work." The new bailout package includes even more tax rises and spending cuts for Greece - a betrayal, some residents say, for those who elected Tsipras to push back against Europe's call for austerity.

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Greek banks to re-open Monday as Tsipras reshuffles cabinet

Saturday, July 18, 2015 - 01:24