Showing posts with label capital controls. Show all posts
Showing posts with label capital controls. Show all posts

Monday 29 June 2015

Capital controls have come to Greece


From Business Insider –

“According to a report by Greek newspaper Kathimerini, Greece's government has formally issued a legislative decree instituting capital controls.

Capital controls are restrictions on how money can be moved out of a banking system and are typically put in place to avoid a bank run.

According to Kathimerini, Greek banks will remain closed until at least July 6 and capital controls — which will limit the amount of money that can be withdrawn at an ATM to 60 euros per day — will be in place until then as well.

Reports also indicated that the Athens Stock Exchange would remain closed while banks are closed.”

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