Melbourne: Broken clouds, 24 °C

Sydney: Clear sky, 36 °C

Athens: Clear sky, 15 °C

Capital controls to be further loosened

Only half of any capital imported into Greece after 1 September 2017 will be subject to capital controls

Node Tools

Rate This

0
No votes yet
Your rating: None

Photo: Reuters

17 November 2017

Two years after implementation, the measure of capital controls is to be further loosened, according to an announcement of the Greek Ministry of Finance.

This latest loosening is in regards to funds repatriated in the country from abroad.

According to the official announcement on the government gazette, half of any capital imported into Greece after 1 September 2017 will be subject to capital controls, compared to earlier transfers of capital which are subject to stricter capital controls.

The harsh measure, which has all but crippled the country's economy, was taken in late June 2015 to prevent a "bank run" after the announcement of the referendum to accept or reject the bailout program offered by Greece's creditors.

Read more from

Copyright © 2009-2017 Ethnic Publications Pty Ltd ABN 13005 255 087