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Greek banks ready to open on July 20 as Merkel urges swift bailout talks

 Greek banks are ready to open their branches across the country on July 20 after a three-week shutdown, officials said, while German Chancellor Angela Merkel called for swift aid talks so Athens could also lift withdrawal limits.

The cautious reopening of the banks, and an increase in value added tax on restaurant food and public transport from July 20, are aimed at restoring trust inside and outside Greece after an aid-for-reforms deal last week averted bankruptcy.

Greek Prime Minister Alexis Tsipras is trying to turn a corner after he reluctantly agreed to negotiate a third bailout, allowing the European Central Bank to top up bank credit lines but prompting a rebellion in his leftist Syriza party.

"Capital controls and restrictions on withdrawals will remain in place but we are entering a new stage which we all hope will be one of normality," the head of Greece's banking association Louka Katseli told Skai television.

Greeks will be able to withdraw 420 euros a week at once instead of just 60 euros a day, but the limit will effectively remain the same and capital controls will also stay in place.

"That's not a normal life so we have to negotiate quickly," Merkel said in extracts from an interview with German public broadcaster ARD.

Merkel said it would be possible to talk about changing the maturities of Greece's debt or reducing the interest Athens has to pay after the first successful review of the new bailout package to be negotiated.

Berlin, the biggest contributor to eurozone bailouts, would do all it could to bring talks to a successful conclusion but would "negotiate hard" to ensure Athens stuck to agreements, she said.

 

Malaysia launches ASEAN startup platform

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ASEAN steps up terrorism fight in digital age

The Southeast Asia Regional Centre for Counter‑Terrorism (SEARCCT) under Malaysia's Ministry of Foreign Affairs held an international conference in Kuala Lumpur on June 24

Singapore's core inflation falls in May

Singapore’s core inflation and overall inflation are projected to average between 0.5% and 1.5% this year.

Indonesia concludes FTA talks with Eurasian Economic Union

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ASEAN education ministers agree on joint statement on student dropout

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Indonesia to start operating first ocean power plant in 2028

The project is planned to be developed in two phases with each phase of 20 MW in East Nusa Tenggara and West Nusa Tenggara.

ASEAN identified as strategic partner of Argentina

In 2023, trade turnover between Argentina and ASEAN exceeded 9 billion USD, with Argentina

Leaders extend congratulations on Russia Day

General Secretary of the Communist Party of Vietnam Central Committee To Lam and State President Luong Cuong on June 12 cabled their messages of congratulations to Russian President Vladimir Putin on the occasion of Russia Day (June 12, 1990).

Indonesia aims to stop corn imports in 2026

President Prabowo noted that in 2024, the country imported around 500,000 tonnes of corn.

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