Melbourne: Clear sky, 15 °C

Sydney: Few clouds, 18 °C

Athens: Clear sky, 19 °C

Capital controls to ease

Greece to start breathing come fall

Node Tools

Rate This

0
No votes yet
Your rating: None

Photo: AAP/Achive

11 August 2017

As of 1 September Greece will marginally lift the limit on bank account withdrawals and allow new accounts to be opened as part of an incremental easing of capital controls.

From next month account holders in Greece will be able to withdraw up to €1800 in cash each month, following an announcement by Greece's Finance Minister Euclid Tsakalotos.

The new rule replaces the €840 limit for withdrawals every two weeks.

The move comes as part of an effort to ease capital restrictions that have been in place since June 2015 during the height of the debt crisis, when the Greek government strove to prevent cash haemorrhaging from its banking system.

The decision also allows individuals and companies to open new accounts and withdraw up to 50 per cent of any funds transferred from overseas by credit transfer.

Read more from

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