Banks in Greece are open today for the first time in three weeks, but limits to cash withdrawals remain. People can now take out 420 euro once per week, instead of the 60 euro limit per day.
Today comes into force the VAT rate hike from 13 to 23 per cent. German chain of markets Lidl announced yesterday in Greek newspapers that they will not raise prices despite the VAT rate hike.
Last week Greece reached a deal with its international creditors, which will allow for more bailout funds in turn for tougher austerity measures to be implemented by the Government. Hotels will retain the 13 per cent VAT rate. The rate for medicine, books and admission to cultural events is dropped to 6 per cent.