Greece
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capital controls

Greece Eases Up on Capital Controls Again

Finance Minister Euclid Tsakalotos signed a decree easing capital controls in the country. According to the new regulations, Greek residents will be able to withdraw 100 percent of money transferred from abroad to current accounts opened in Greek credit institutions,...

Maximum Cash Withdrawal Limit Rises to €1800 as Capital Controls Ease

New regulations easing capital controls and raising the maximum monthly cash withdrawal limit to 1800 euros came into effect on Friday. The measure had been announced and passed as an act of legislative content in early August. A Hellenic Bank...

Greece Raises Individual Bank Withdrawals to 1,800 Euros per Month

Greece will further relax capital controls by September 1, in terms of both monthly cash withdrawals and opening of new accounts. According to a decision of the Minister of Finance published in the Government Gazette, Greece will marginally lift the...

Tsipras to Varoufakis: Let's Take the €16 Bln of the European Central Bank

"What? There are 16 billion euros in cash scattered here and there, and we do not use them to load ATMs and make them work as normal?" Greek Prime Minister Alexis Tsipras told then finance minister Yanis Varoufakis in...

How Two Years of Capital Controls Hurt Greek Trade

It was June 27, 2015 when the finance minister at the time, Yanis Varoufakis, and the Greek government decided to impose capital controls in the midst of negotiations with creditors over the country's bailout. Two years ago on this date, Greek...

Capital Controls to Stay in Effect Until End of 2018 at Least

Capital controls will remain in effect until the end of 2018 at least, after being enforced in June 2015, Kathimerini daily says. The report cites a credit sector source and comes in light of a new government announcement that there...

Seven in Ten Greeks Are Now Using Debit and Credit Cards

More than two out of three Greeks are now using debit or credit cards for their daily transactions, even though they have reservations over their use, a new study shows. In the survey conducted March 6-13 by the Commerce and...

Avoiding Capital Controls: Real Estate Revenues From Foreign Buyers Deposited in Banks Abroad

The majority of revenues of Greek luxury real estate transactions acquired by foreign nationals remain in banks outside of Greece, sources have reported. In fact, according to Yiannis Ploumis who is the general director at the Ploumis-Sotiropoulos real estate agency...

Calamos CEO John Koudounis: Capital Controls in Greece are Deterrent to Investors [video]

Capital controls are deterrent to investors in Greece and "you cannot keep these controls and expect the country to do well," said Calamos Investments CEO John Koudounis. The Calamos executive spoke to Greek Reporter saying that in the past his company...

Capital Controls Likely to Stay Indefinitely, Says Greek Bank Official

Capital controls in Greece are unlikely to be lifted in the foreseeable future, says a Vima newspaper report, citing a high bank official who talked of a "long and rocky road." According to the bank official, there are two reasons...