Capital controls eased in Greece

Screen Shot 2016 07 23 at 6.14.15 PM

Screen Shot 2016-07-23 at 6.14.15 PM

Greece approved ease of capital restrictions yesterday as confidence in its banking system returns and bail-out reforms are met.

Athens imposed capital controls last year when there were serious talks of a Grexit.

It is the 11th ministerial decision allowing for the easing of the capital controls since they were introduced, the ministry said in a statement.

Among other changes, new deposits paid into Greek banks won’t be subject to capitals controls and there will be higher withdrawal limits on money that has come from abroad.

GCT Team

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

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