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Tag Archives: capital controls

BoG Stournaras: Greece to ease capital controls soon

Greece will soon ease capital controls further but full liberalization will depend on progress in easing the country’s debt burden, which is also a precondition for entering the ECB’s asset buying scheme, central bank chief Yannis Stournaras said. Propped up by three successive bailouts, Greece hopes to emerge from a …

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ECB approves easing of Capital Controls – Details

The European Central Bank gave the “green light” to Greece to further ease the capital controls imposed in June 2015. The ECB decision follows a request submitted by governor of Bank of Greece, Yiannis Stournaras, last week. The ECB decision was made public by the governor of BoG, who, however, …

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One year Capital Controls in Greece – Was it worth it?

Remember that Sunday, on June 28th, a year ago? Remember the queues outside ATMs growing in a quick and non-stop pace? It was a day after Prime Minister Alexis Tsipras had announced a Referendum amid suffocating pressure from the European Union, financial dry out by the European Central Bank and …

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Greek FinMin: Once QE for Greek bonds, Grexit will be off the table

Greek bonds will soon become eligible for the European Central Bank’s asset-purchase program, paving the way for an easing of capital controls, and the gradual recovery of investor confidence, Finance Minister Euclid Tsakalotos said. In an interview to Bloomberg, the Greek Finance Minister said also that once Greece is part …

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Varoufakis: Capital controls introduced Two Parallel Currencies in Greece

Former Finance Minister Yanis Varoufakis reveals that the capital controls imposed in June 2015 in fact created two parallel currencies in Greec, the bank euros imprisoned in the lational banking system and the currency euros in form of banknotes and coins. “Once euro deposits are imprisoned within a national banking …

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Capital controls in Greece to be lifted by end of 2015? Economists don’t think so

Every once in a while we hear about it: that capital controls will soon be lifted, that is when the banks recapitalization concludes. I have no idea who circulates these news but such the option ‘to lift the capital control by -let’s say – end of the year’ seems rather …

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ECB Vice Constancio: Grexit threat was “never for real”

Vice President of the European Central Bank Vitor Constancio openly  admitted that the threat of kicking Greece out of the euro zone during the spring negotiations was “never for real” because it would not be legal. So simple. So cynical. So unabashed. So real. In an interview to Reuters, Vitor …

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Greeks suffered wages losses of -28.16% from 2010 to 2015

Five years of loan agreements, memoranda of understanding, austerity measures and internal devaluation. And here is the bill for Greece’s employees: a decrease of 28.16% within five years. According to data from the Hellenic Statistical Authority (ELSTAT) salaries were cut by 28.16% in the period of the first memorandum of …

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