Greece to abolish capital controls

Greece capital control

Greece capital control

According to Greek government sources, the Greek Finance Ministry and the Bank of Greece are expected to abolish capital controls by early 2019 at the latest.

The news comes as the current ceiling of 5,000 euros per month per bank accounts exceeds the needs of most customers.

Additionally, other interventions include lifting all restrictions to money transfers abroad, both for individuals and for companies, moves that will bring confidence and normality to the banking system and the economy.

The Greek government imposed capital controls in 2015 after

Greece imposed capital controls in the summer of 2015 after the European Central Bank refused to increase emergency funding to the country’s banks following the crisis talks between Alexis Tsipras and the troika.