Greece eases capital controls in stock exchange transactions

Ankara, Dec 8 (IANS) Greece on Tuesday eased the capital controls in stock market transactions imposed in June.

As of Tuesday, according to the decision taken by the finance ministry, Greek investors will be able to buy stock shares using so-called “old money” that was blocked in domestic accounts in the context of efforts to avert a possible collapse of Greece’s banking system, Xinhua news agency reported.

On June 29, while Greece had not yet reached a new bailout agreement with international lenders and concern of imminent default and Grexit had skyrocketed, the government introduced capital controls for all Greeks that are gradually eased.

Over the past five months Greek investors – in contrast with foreign investors – were able to buy shares only with “fresh money”.

The step came as the government eyes the full lifting of restrictions in 2016, after the stabilisation of the ailing economy.

Finance Minister George Stathakis said that the full lifting of all capital controls will come within the new year.

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