Greece Reopens Banks After Weeks of Turmoil
The markets seem happier, as does Angela Merkel. European equities opened higher today as bank doors opened to Greeks for the first time in three weeks. Following a deal to secure a third eurozone bailout, the financial institutions resumed business in a confidence-boosting measure, albeit with continued restrictions, like weekly withdrawal limits of $450 and bans on international transfers. Consumers are bracing for more austerity — including a 23 percent sales tax — but the German chancellor, at least, believes a Grexit is off the table.