Greece fully lifts capital controls

by Kerin Hope

Financial Times

August 26, 2019

Greece will fully lift capital controls on September 1, ending four years of restrictions on transfers abroad by companies and individuals, finance minister Christos Staikouras told parliament on Monday.

The move, which was proposed last month by the country’s central bank, was agreed with the Single Supervisory Mechanism, the European Central Bank’s banking supervisory agency, Mr Staikouras said.

“Restoring free movement of capital will contribute significantly to strengthening confidence [in Greece] and attracting investments . . . and will lead to further upgrades of the country’s credit rating,” he said.

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