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Greece Further Relaxes Capital Controls to €5,000 per Month

Greeks rush to withdraw cash during the height of the financial crisis.

Greece’s finance ministry has further relaxed capital controls with a decision sent for publication in the Government Gazette on Thursday, raising the monthly limit for cash withdrawals to €5,000 ($5,850) per depositor a month, from €2,300 at present.
The decision signed by Finance Minister Euclid Tsakalotos also further facilitates financial transactions abroad by legal entities or entrepreneurs as part of their business activity.
The amount in cash, either in euros or foreign currency, that can taken out of the country per individual per trip has been increased to €3,000, while the maximum monthly limit for bank wire transfers abroad will be raised to €4,000 a calendar month for each customer ID, as of July 1.
For businesses, the amount that can be sent abroad has been increased to €40,000 for each transaction per client and per day, with transactions carried out directly by credit institutions branch networks.
The finance ministry said Greek authorities are aiming to fully lift capital controls as soon as possible, ensuring both macroeconomic and financial stability at the same time.
(Source: AMNA)


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