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Moody’s “sees” capital controls and deposits freeze in Greece

Moody’s Investors Service said Wednesday its outlook on the Greek banking system is “negative”, citing “acute deterioration in funding and liquidity” as reason for its view.

“These pressures are unlikely to ease over the next 12-18 months and there is a high likelihood of an imposition of capital controls and a deposit freeze,” said Moody’s in a statement.

More than €30 billion in deposit outflows have been recorded since December, Moody’s said. Greece remains deadlocked with creditors about economic reforms, which are tied to future bailout funds for cash-strapped Athens.

Question: Capital Controls is the same like Deposits Freeze, isn’t it?

PS What I “see” is parking half of my family outside the EU and Eurogroup buildings in Brussels and the other half in Berlin. They will hold protest banners asking Juncker, Merkel, Schaeuble and Dijsselbloem to feed them and provide them with medicine. YYYES!

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  1. Giaourti Giaourtaki

    The Greek government must increase the pressure on the German cuz it’s likely a 50/50 chance that the German government will collapse of too many scandals.
    Making Pangalos spying the Americans more known to the European public would be helpful.

  2. Capital controls are generally understood to be cross-border while a deposit freeze is domestic. You can have capital controls without a deposit freeze but with a deposit freeze, there is less need for cross-border controls because, after all, where should the funds for cross-border transfers come from? But still, once you get to the point of needing controls, just about everything must be controlled because capital, like water, has a way of finding its way.