Greek banks re-opened today after bridge loan - BBH

FXStreet (Guatemala) - Analysts at Brown Brothers Harriman noted that the the Greek banks reopened today but capital controls likely to remain in place for many months.

Key Quotes:

"The capital controls appear to have been tweaked to allow a weekly maximum of 420 euros instead of 60 euros a day. This is nothing."

"The retail sector is not where the urgency lies. It is with the business transactions that are paralyzed. The biggest threat to banks was the potential sovereign default. This risk has lessened considerably."

" The more urgent risk now is that the commercial paralysis leads to a surge in non-performing loans. Capital controls are likely to remain in place for many months to come."