Plans are being drafted in order to exclude new bank deposits from the capital controls which were imposed last summer, in an effort to support domestic businesses – especially in the tourism sector – and to encourage the return of capital.
The government is preparing these plans at the recommendation of the European Commission. Such an exemption was also introduced in Cyprus when capital controls were imposed and is estimated to have critically benefited the country’s recovery.
Even though there has been a relaxation of some of the capital controls introduced in Greece in the summer of 2015, many still remain in place and affect the operation of businesses.
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