Capital Controls

Lifting the last of the capital controls is expected to be at the focus of talks on Friday between Bank of Greece Governor Yannis Stournaras and the heads of the country's credit sector.

The full abolition of limitations in cash withdrawal is credit-positive for Greek banks, Moody's said in a report released on Thursday.

Greek authorities on Thursday announced the abolition of all restrictions on cash withdrawals and capital movements within the country with the further loosening of capital controls.

The Greek Finance Ministry and Bank of Greece are plannng to completely abolish capital controls by late this year or early next year, according to sources.

It is obvious that the figures add up, said Finance Minister Euclid Tsakalotos in an on Saturday noting that "they add up because we have taken as calculating basis the financial area which we have already agreed with the institutions and…

The finance ministry has further relaxed capital controls in Greece with a decision sent for publication in the Government Gazette on Thursday, raising the monthly limit for cash withdrawals to 5,000 euros per depositor a month, from 2,300…

A further loosening of capital controls and an improvement in asset quality are credit positive for Greek banks, Moody's said on Monday.

New regulations easing capital controls and raising the maximum monthly cash withdrawal limit to 1800 euros came into effect on Friday. The measure had been announced and passed as an act of legislative content in early August

The Finance Ministry issued a road map for the further relaxation of capital controls, aiming to fully remove them eventually as economic conditions improve