Greek banks ordered to reopen

The Greek government has ordered banks to open today, three weeks after they were shut down to prevent the system collapsing under a flood of withdrawals, as prime minister Alexis Tsipras looks to the start of new bailout talks next week.

The decree to reopen the banks came hours after new ministers were sworn in following a cabinet reshuffle in which Tsipras replaced dissident members of his ruling Syriza party following a revolt over the tough bailout terms.

The first action of the new cabinet was to sign off on a decree to reopen banks today with slightly more flexible withdrawal limits that allow a maximum of €420 a week in place of the strict limit of €60 a day currently in place. But restrictions on transfers abroad and other capital controls remain in place.