Greek Banks Reopen, As Some Austerity Measures Take Effect

Greek bank branches reopened today after being closed for three weeks in an effort to prevent a collapse of its banking system. But there are still many banking restrictions in place.

Meanwhile, some of the austerity measures enacted as a condition for a new bailout are taking effect this week. For instance, today Greeks are being hit by increases in the value-added tax on goods and services.

Jill Schlesinger of CBS News joins Here & Now’s Meghna Chakrabarti to explain the specifics of the new austerity measures for the Greek economy, as well as the bank restrictions that are still in effect.

Guest

• Jill Schlesinger, business analyst at CBS News. She tweets @jillonmoney.

Copyright 2015 NPR. To see more, visit http://www.npr.org/.