Greek banks reopen for first time in three weeks

Withdrawal limit relaxed to a420 a week and deposit boxes can be emptied, but capital controls remain

Greeks were queueing outside banks on Monday morning, as the institutions opened their doors for the first time in three weeks, amid hopes that the beleaguered nation can reach a swift agreement with its international creditors on a bailout of its wrecked economy.

Limits on cash withdrawals remain in place, but have been loosened. Greeks are now able to withdraw up to a420 (290) a week in one transaction, rather than being limited to a60 a day. But restrictions on sending money abroad and other controls have not been lifted and the Athens stock market is closed until further notice.

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