Greek PM Calls for End of Capital Controls Next Year

Greek Prime Minister Alexis Tsipras said on Tuesday he hoped capital controls imposed at the height of the country’s debt crisis in July can be lifted in the first half of next year.

Addressing a conference of the Hellenic-American Chamber of Commerce, Tsipras said his leftist government had taken the first steps to address non-performing loans and recapitalize banks so they could start lending again to the economy.

Tsipras said the Greek economy was doing better than had been expected when capital controls and a three-week bank holiday were imposed in July to stop deposit flight. The measures severely limited cash withdrawals and sending money abroad.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza