Tuesday, August 18, 2015

Loosing control of capital movements in Greece – RTP

The capital controls had been introduced on June 29, to prevent capital flight that was felt with particular urgency in the weeks and days prior to the agreement signed by Tsipras in Brussels.

A diploma awarded today the Greek government back to allow transfers abroad without the express permission of the authorities, up to 500 euros per month. Depositors can still only raise their cpntas up to 420 euros per week.

For students abroad, there is a special provision which allows them to receive up to 8,000 euros per quarter for the payment of fees and their current expenses.

According to Reuters, banks will also benefit from the liberalization of capital transfers, in particular to the interbank market and to trade with derivatives.

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