Greece’s creditors ease capital controls

Screen Shot 2016 07 20 at 10.33.46 AM

Screen Shot 2016-07-20 at 10.33.46 AM

The strict capital controls placed on Greece by its creditors will finally be eased allowing Greek citizens to withdraw more money from their accounts, after the Governor of the Bank of Greece Yannis Stournaras made a formal request to the European Central Bank on Monday.

The request which was approved by the European Central Bank, will allow Greek bank account holders to withdraw up to 840 euros in cash every two weeks with the withdrawal limit increased from 10% to 30% , whilst restrictions on loan repayments will also be lifted.

Importantly, Greeks travelling abroad will have their card limits increased as well, allowing them to withdraw greater amounts of cash than they were previously.

GCT Team

This article was researched and written by a GCT team member.