Monday, July 20, 2015

Life under debt

Legal Insurrection tells the tale of Greece's first day under the bailout payoff terms.
Although doors opened and ATMs were stocked, Greeks looking to cash out were met with the continuation of withdrawal restrictions of 60 euros per day; the government slightly relaxed the rules put in place during its negotiations with the rest of the Eurozone, and set an additional 420 euro per week limit, eliminating the need for daily runs on ATM machines and bank tills. Checking transactions are limited to deposits, and account holders are still restricted from taking out cash while abroad.
Shoppers saw a 10% hike in the country’s VAT tax approved by parliament on Thursday; parliament also agreed to reforms of pension and early retirement programs that have Greek citizens worried.

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