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Greece to further ease Capital Controls restrictions, raise withdrawal limit

Greece is preparing two more measures to ease restrictions for Capital controls imposed in the country since end of June 2015.  One of the measures will be the raising of monthly withdrawal cap and other will affect opening of new accounts at the banks.

According to media reports on Friday, the withdrawal limit will increase to 2.300 euros per month, from 1.800 euros since June 2015.

At the same time, the new measures see also the total liberation of  restrictions on bank accounts. Every citizen will be able to open a new account at a bank, independently of whether he has already an account at this bank or not.

The new measures are reportedly awaiting for the signature of finance minister Euclid Tsakalotos. They will go into effect once the decision is being published in the official government gazette.

Sources form the banking sector told media that such moves signal the confidence increase in Greek economy. They estimate that deposits will increase and money will return to the banks once more capital controls restrictions are been lifted.

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3 comments

  1. The people working in the branches will still block account opening by making ridiculous over the top documentary requests. If you are an Expat you have no chance. EU law will be ignored.

    • they can’t do that. ridiculous doc requests are for Greeks too. it is EU laws to combat money laundering and not Greek laws

  2. They do exactly that. You have obviously lived in such a dysfunctional system for so long that you have no idea how the normal world does business. Account opening instant in all EU countries with Passport and address proof apart from Greece. Fact.