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    Greek Banks Reopened Monday after Three Weeks Closed

    July 21, 2015

    Brussels: Greek banks opened Monday after 23 days closed, while the European Commission (EC) confirmed its outlay of seven billion 100 million euros as urgent financing for the Hellenic country.



    The financial situation in that country was characterized this Monday with the IVA (tax on aggregate value) increase fromj 13 to 23 percent, to numerous food products from lard to crackers and chocolate, imposing a trend to change prices.


    It is expected that the IVA on transport passes from five to 10 percent, without changes in that indicator regarding high-range goods that stay at 23 percent.


    On its part, the tax on medicines, books, magazines and show tickets, when the most quahtity people can withdraw from banks is 420 euros per day.


    The EC confirmed the outlay of 7 billion 160 million euros urgently so Athens can face its imminent commitments.


    In that sense, the Communiuty spokesperson Mina Andreeva, insisted on such a confirmation through the European Mechanism of Financial Stabilization  so it can pay its arrears to the International Monetary Fund (IMF) and the European Central Bank (ECB).


    This payment will serve Athens to cover the 4.2 billion euros it has to pay today to the ECB and give back the 1.5 billion to the IMF, pending debt since June 30.


    Leaders of the Eurozone including the Greek Prime Minister, Alexis Tsipras, agreed in its last week sumit to completely normalize the work methods between those institutions and Athens.

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