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  1. New measures to ease capital controls, lift restrictions on opening bank accounts

    EconomyMacroeconomy

    Additional measures to ease the capital controls in place in Greece since 2015 were announced... capital controls as part of a roadmap to ease and eventually lift the restrictions, announced on May... or natural, for the first time since capital controls were imposed. It will also be possible to add a co

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  2. What capital controls will mean for Greek banks, customers and the economy
    Photo by MacroPolis

    Economy

    of capital controls via a legislative decree. During the bank holiday, which may later be extended.... The legislative decree clarifies that pension payments are excluded from capital controls, with further... holiday period. Before the announcement of capital controls, there were a series of developments

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  3. Capital controls eased, allowing larger withdrawals and doubling limit on business transfers abroad
    Photo via Flickr https://flic.kr/p/4hVnhM

    EconomyMacroeconomy

    Greece’s Finance Ministry (MoF) announced on Thursday that the capital controls introduced... of capital controls in the near-term, 79 percent did not expect to withdraw their savings once capital controls are lifted. The same goes for 73 percent of high income individuals in the survey. The MoF

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  4. Finance Ministry publishes roadmap for relaxation of capital controls
    Photo by Panayotis Tzamaros/Fosphotos

    EconomyMacroeconomy

    The Finance Ministry (MoF) published the roadmap for the relaxation of capital controls on Monday... noted. Capital controls were imposed at the end of June 2015 and a number of ministerial decisions... steps for further relaxation of capital controls should be implemented as soon as possible and need

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  5. Study shows deep impact of capital controls on retail sector
    Photo by MacroPolis

    Economy

    the devastating impact on retail sales from the imposition of capital controls. The study showed prior to capital controls retail sales fell to 3.33 billion euros, or by 5.4 percent in June. In July... of capital controls. Specifically, food and fuel sales fell by 5.5 percent in June, significantly

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  6. Bank holiday to end but capital controls remain and some transactions forbidden
    Photo by MacroPolis

    Economy

    holiday from July 20. However, capital controls will be maintained, while several banking activities... Exchange, which remains closed as of June 29. The key issue relates to the capital controls... holiday would result is some kind of return to normality for Greek banks, the capital controls

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  7. Capital controls take toll on car sales, which fell 23.9 pct in July for first time in two years
    Photo by MacroPolis

    EconomyMacroeconomy

    ). The drop in July is largely attributed to the imposition of capital controls. It is the first... for a potential Grexit or imposition of capital controls and deposit haircut with a large number... controls was apparent in July and is expected to be maintained in the coming months putting an end

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  8. Marked drop of 50 bps in new time deposit rate in July amid capital controls
    Photo by MacroPolis

    EconomyMacroeconomy

    ’ decision to lower interest rates in the aftermath of capital controls, since the four core banks dominate more than 95 percent of the market. The legislative act on capital controls prohibits... in the succeeding months until capital controls are lifted. Despite the considerable decline in July

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  9. New time deposit rate fell 12 bps in August to record low of 1.19 pct amid capital controls

    EconomyMacroeconomy

    the four systemic banks’ decision to reduce interest rates amid capital controls, since they dominate... on capital controls. The restrictions on time deposit renewals also explains the positive flow of 6.25... the various deposit accounts should be expected in the next few months until capital controls are lifted

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  10. Stournaras eyes easing of capital controls, updates on loan quality and NPL reduction targets

    EconomyMacroeconomy

    for easing capital controls. Stournaras revealed that the non-performing exposure (NPE) ratio... of overdue obligations Capital controls The second issue Stournaras touched upon in his speech to MPs... ease capital controls. The first measure relates to the abolition of the restrictions on “new” money

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