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  • Government poised for further easing of capital controls

    If the Bank of Greece, and by extension the European Central Bank under which it operates, grants approval, the finance ministry plans to raise the monthly withdrawal limit from a single bank account from 1,800 to 2,300 euros.

    ΤοΒΗΜΑ Team

    Following the recent loosening of capital controls for Greek export businesses, the government is poised to do the same for individual depositors.

    If the Bank of Greece, and by extension the European Central Bank under which it operates, grants approval, the finance ministry plans to raise the monthly withdrawal limit from a single bank account from 1,800 to 2,300 euros.

    It is hoped that the planned measure, which comes after a hopeful rise in bank deposits, will improve market psychology, and trust in the banking system.

    Other measures to ease banking restrictions imposed in July, 2015, include allowing one to open a new account at a bank, regardless of whether they already have an account at that specific bank, or any other.

    The legislative act for the new capital controls easing has already been prepared. Finance Minister Euclid Tsakalotos is expected to sign it once the Central Banks’ approval is obtained, which is expected in the immediate future, and it will take effect immediately upon its publication in the Government Gazette.

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