Banks in Greece reopen amid low confidence

Global Business

Many Greeks lack optimism that the country’s financial woes will be resolved in a timely manner, even after Greek banks opened Monday for the first time in three weeks. The government ordered them shut down previously to prevent a collapse from happening as Greeks were withdrawing their money on a grant scale amid fears of a bankruptcy. Banks are reopening after Greece’s leftist-led government reluctantly accepted another harsh cash-for-reforms deal in order to spare the country from a debt default. CCTV’s Filio Kontrafouri filed this report from Athens.

Banks in Greece reopen amid low confidence

Many Greeks lack optimism that the country's financial woes will be resolved in a timely manner, even after Greek banks opened Monday for the first time in three weeks. The government ordered them shut down previously to prevent a collapse from happening as Greeks were withdrawing their money on a grant scale amid fears of a bankruptcy. Banks are reopening after Greece's leftist-led government reluctantly accepted another harsh cash-for-reforms deal in order to spare the country from a debt default.



Greek consumers upset over new sales taxes
The Greek government has increased the value-added tax rate from 13 to 23 percent on some 100 categories of products and services in Greece with the aim of raising an additional 867 million dollars by year’s end. What is not clear is whether consumers will keep buying products that now come with a much higher price tag than they are used to. CCTV’s Eirini Zarkadoula filed this report from Athens.
Follow Eirini Zarkadoula on Twitter @ezarkadoula

Greek consumers upset over new sales taxes

The Greek government has increased the value-added tax rate from 13 to 23 percent on some 100 categories of products and services in Greece with the aim of raising an additional 867 million dollars by year's end. What is not clear is whether consumers will keep buying products that now come with a much higher price tag than they are used to. CCTV's Eirini Zarkadoula filed this report from Athens.