Greek crisis: Government orders banks to re-open Monday as Alexis Tsipras reshuffles cabinet

Jessica Morris
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Alexis Tsipras ousted hardline left wing ministers in a cabinet reshuffle (Source: Getty)

The Greek government has ordered the cash-strapped country's banks to re-open on Monday ahead of talks regarding a third bailout deal.

It will also mean the Greek people can withdraw a maximum of €420 (£291) a week, in place of the stricter limit of €60 a day currently in place.

Greece was forced to close its banks to prevent the system collapsing on 29 June, after negotiations with bailout monitors culminated in a stalemate.

Read more: European parliaments want to negotiate with Greece

It comes as new ministers were sworn in following a cabinet reshuffle in which Greek prime minister Alexis Tsipras ousted hardline left wing ministers. One minister said that the reshuffle marks "an adjustment by the government to a new reality".

This week 39 members of the Syriza party withheld support from the government over the bailout package agreed with its creditors - the European Central Bank, the IMF and the European Union.

They were unhappy that Greece agreed to undertake more economic reforms and austerity in return for cash, despite the country rejecting such a deal in a national referendum earlier this month. Greece was forced to stand down on areas it had previously considered red lines such as pensions.

Read more: Is the Greek bailout deal designed to fail?

Tsipras and co. are now trying to clinch a bailout deal with its creditors to unlock the funding that it so desperately needs.

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