Greece to scrap last capital restrictions dating from crisis
Aug 26, 2019
Greece's prime minister says the country will soon lift the last remaining restrictions imposed on bank depositors more than four years ago at the height of the country's financial crisis
ATHENS, Greece — Greece's prime minister says the country will soon lift the last remaining restrictions imposed on bank depositors more than four years ago at the height of the country's financial crisis.
Kyriakos Mitsotakis said Monday the removal of the restrictions, known as capital controls, next week will end a long "cycle of insecurity." The restrictions mostly concern movement of funds abroad, for both individuals and businesses.
Greek authorities imposed the measures in June 2015 to stop a developing bank run as depositors panicked by the government's escalating clash with its bailout creditors made mass cash withdrawals.
At first, depositors were only allowed to withdraw 60 euros ($66) a day, but the limit was gradually relaxed and then scrapped.
Greece was kept afloat by international bailouts from 2010-2018.
More News
How day of protests unfolded as disorder breaks out across France
Demonstrations across the country turned violent, with cars and buildings set alight and shops ransacked.
Trump Offers Putin Economic Relief in Hopes That Russia Will Return the Favor
The Trump administration is ignoring the will of Congress and waiving new Russia sanctions amid fears that high energy prices will cost Republicans in next month’s elections.
M.L.B. Playoff Ads With Sydney Sweeney and Megan Fox Draw Backlash
Commercials promoting a gambling platform and endorsing male enhancement have rankled fans, and even athletes. Who is in charge?
Weak Links Start to Show in A.I. Borrowing
Debt trouble at CoreWeave, Oracle and SoftBank raises questions about whether there are broader problems with the data center build-out.
The Reporter Who Exposed Elizabeth Holmes on Nathan Fielder’s Documentary
Ms. Holmes handed the makers of “You Can See Everything” — and the rest of the world — a microscope with which to observe and dissect her lies.
Can Cereal Be Healthy? Big Companies Are Trying.
As more Americans turn away from the snap, crackle and sugar, the industry is trying to capitalize on our current obsession with wellness.
Low-cost clinic helps pet owners with vet bills
RSPCA Medway West launches its clinic for the pets of people with low incomes.
States Are Stepping Up as the New Antitrust Enforcers
With the Trump administration taking a relaxed approach, attorneys general around the country have ramped up their scrutiny of mergers.
Corporate Tax Revenue Falls Even as Profits Soar Under Trump
The annual decline was about $70 billion. Companies are writing off billions in A.I. investments, taking advantage of tax cuts that President Trump signed into law.
It’s Time to Shop Medicare, and This Year, It’s Extra Important
Be sure to read your mail this fall — big changes to prescription drug plans and Medicare Advantage provider networks are coming, and could cost you more.
Weak Links Start to Show in A.I. Borrowing
Debt trouble at CoreWeave, Oracle and SoftBank raises questions about whether there is broader trouble with the data center build-out.
Call for more food funding due to high living cost
Deputy Louise Doublet does not think the cost of living was considered in the ending of a trial.