Tag Archives: capital controls

“Capita controls belong now in the past,” Greek Prime Minister, Kyriakos Mitsotakis said announcing the full lifting of capital controls on Monday. “After 50 months, a cycle of insecurity finally closes,” Mitsotakis said during his speech in the Parliament. “A new cycle os opening for the Greece we want and …

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The European Union’s top General Court denied access to a European Central Bank (ECB) document which underpinned its decision to freeze vital funding to Greek banks in 2015, that resulted in forcing Athens to impose capital controls. Former Greek finance minister Yanis Varoufakis and German left-wing parliamentarian Fabio De Masi(Die …

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After three years and three months, Greece lifted the cap on cash withdrawals on 1. October 2018. It herewith completes the so-called “second pillar” of Capital Controls imposed in the country on end June 2015. The Finance Ministry has issued the relevant decision on Thursday, Sept 27th 2018, the decision …

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After three years and three months, Greece will lift the cap on cash withdrawals as of 1. October 2018. It herewith completes the so-called “second pillar” of Capital Controls imposed in the country on end June 2015. The Finance Ministry has issued the relevant decision on Thursday, Sept 27th 2018. …

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Greece plans to further loosen capital controls and to lift restrictions with regards to cash withdrawals and opening bank accounts. This is what Finance Minister Euclid Tsakalotos said in an interview on Saturday. “We will have new easing [of capital controls] very soon,” Tsakalotos told newspaper Naftemporiki , however, he …

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Speculation is high that Turkey may seek a bailout from the International Monetary Fund and possibly also impose capital controls after the Turkish Lira lose big towards the US dollar. Recent fluctuations in foreign exchange markets, which cannot be explained on economic grounds, will ease sooner or later, ruling Justice …

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Greece’s Finance Ministry has reportedly already prepared a new legislation that will further loosen capital controls and spectacularly raise the monthly cap of cash withdrawals for natural persons.  The new measure will allow bank account holders to withdraw up to 5,000 euros per month. Since 1. March 2018, the withdrawal …

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Greece is considering further easing of capital controls with the increase of  the cap for cash withdrawing and limiting restrictions to businesses.  The new measures could be implemented as soon as 1. June, that is on the third year the restrictions were imposed. According to media reports, the new measures …

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Greece has taken further steps to ease the capital control restrictions as of 1. March 2018. Euclid Tsakalotos has approved a series of measures that ease the restrictions, the decision has been already published in the official gazette. The measures raise among others the monthly withdrawal limit and allow the …

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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, …

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Greece’s finance Ministry announced the further easing of capital controls, however, the monthly limit of cash withdrawals will remain the same. The three major changes refer to individuals and they are: people to open a bank acocunt provided they do not have one in any bank. another person will be …

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Further easing for cash withdrawals under capital controls go into effect today, September 1st 2017, after the relevant legislation act was approved beginning of August. Effective from today, provisions for cash withdrawals in the context of capital controls, which had been announced in a legislative act since the beginning of …

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Greece will marginally lift the cash limit on bank account withdrawals and allow the opening of new accounts as part of an incremental easing of capital controls first introduced in 2015. The new regulations, effective on Sept. 1, will allow individuals to withdraw lump sums of up to 1,800 euros …

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The Greek Finance Ministry revealed the next steps it plans to take in order to proceed with further easing of the capital controls that have been imposed since end of June 2015. According to the finance ministry road map the next steps will include: increase of withdrawal limit to 500 …

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Lifting of capital controls is allegedly not expected to take place before at least the end of 2018. The restrictions were imposed end of June 2015, after the European Central Bank drained Greece’s banks and depositors were massively were withdrawing money out of a fear the country could exit the …

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European Central Bank president Mario Draghi keeps interest rates at historic low.The low interest rate cause a blow to million of deposits of ordinary people who trust their live savings to the banks. In a statement issued on Thursday, the ECB said: At today’s meeting the Governing Council of the …

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For one more time, the International Monetary Fund admitted it made wrong projections about Greece’s economy. This time it was IMF’s director of the European Department Poul Thomsen. Speaking at a press conference in Washington on Friday, Thomsen said the Fund’s projections for 2015 and 2016 were wrong because the …

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The decision of the European Central Bank to freeze the emergency liquidity in summer 2015 and force the Greek government to close the countries bank was possibly not legal. This is stated in the Italian daily Il Manifesto that quotes Fabio de Masi, member of German Die Linke in the …

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The European Central Bank has commissioned a legal opinion on the legality of the imposition of capital controls in Greece  end June 2015. But ECB chief, Mario Draghi refuses to make the findings public.  Former Greek finance Minister Yanis Varoufakis and French Socialist Party candidate for the Presidency Benoît Hamon …

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Delays in the talks between Greece and its lenders have brought back the ghost of Grexit.  The grave disagreement between the International Monetary Fund and the European lenders, Grexit bombshell flying around and Greece’s reluctance to accept additional austerity measures have increase uncertainty among citizens – for one more time. …

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