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Greek banks reopen, but limits remain

20 July 2015 09:09 (UTC +04:00)

The banks were shut last last month to stem a rush of money out of the country's cash-starved financial system. The government also set 60 euro limits on daily withdrawals, causing hardship for residents and often long lines at ATM machines, CNN reports.

On Monday, the 60 euros limit on ATM and in-person withdrawals at branches will continue, according to a statement from the Greek Finance Ministry. If weary Greeks don't want to wait in line each day to get their 60 euros ($60), they also will be able to go, say, once a week and take out 420 euros ($455) -- the weekly maximum -- which is a fairly high cap since it's more than many Greeks earn in a week.

The reopening of the banks comes as Europe's central bank promised 900 million euros in new emergency funding for Greece on Thursday.