Banks in Greece to reopen on Monday after shutdown

After a three-week shutdown, banks in Greece are preparing to reopen on Monday.

Last week, Greece reached an agreement with its creditors that kept the country in the eurozone, and several changes are coming to the country, including an increase in value added tax on food in restaurants and public transportation, up from 13 percent to 23 percent. On Monday, Greeks will be able to take €420 ($454) out of ATMs once a week instead of only €60 ($65) a day, which is basically the same amount of money but will make it so people don't have to wait in long lines on a daily basis.

German Chancellor Angela Merkel told the German public broadcaster ARD that this "is not a normal life, so we have to negotiate quickly." She also said it would be possible to discuss changing the maturities of Greece's debt or reducing interest that the country has to pay after the first successful review of the bailout package to be negotiated, Reuters reports.

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