Greece makes overdue payments, no longer in default

It also comes after Greece repaid about 2 billion euros to the global Monetary Fund, clearing all its arrears after missing several payments in June and July.

“As we have said, the Fund stands ready to continue assisting Greece in its efforts to return to financial stability and growth”, the statement concluded.

The European Central Bank increased emergency funding for Greek banks last week, ending a freeze of nearly three weeks and urging Europe to find a way to cut the country’s debt burden. The bank closures were the most visible sign of the crisis that took Greece to the brink of leaving the euro earlier this month, potentially undermining the foundations of the single European currency.

In addition, the Greek government is also paying back a 500 million-euro loan to its own central bank.

Customers still lined up outside banks to deposit cheques, access safety deposit boxes and withdraw money from within branches. Capital controls of €300 in weekly withdrawals will be lifted to €420 by next week according to Louka Katseli, Chairwoman of the National Bank of Greece.

Dimitris Chronis, an Athens kebab shop owner, said the new taxes were bad news for his business. People would order a lot and buy food for their colleagues on special occasions.

Last week the government of Prime Minister Alexis Tsipras presented a request for a third financial bailout in which it accepted a large portion of the additional austerity measures demanded by the creditors as a condition for receiving new funds. “Because to be honest nothing much changes given the capital controls are still in place”, he said.

On Monday, French President Francois Hollande put forward his ideas for a new parliament for the eurozone countries and a shared budget.