Lifting of capital controls a decisive step toward normalising Greece’s economy, Staikouras says
File Photo: Ο υπουργός Οικονομικών Χρήστος Σταϊκούρας. Φωτογραφία ΑΠΕ-ΜΠΕ, Αλέξανδρος Μπελτές
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The decision to fully lift capital controls was a “decisive step for the normalisation of the Greek economy,” Finance Minister Christos Staikouras said in parliament on Monday, after tabling the relevant amendment earlier announced by the prime minister.
“The government, via its economic team, is proceeding with the complete lifting of capital controls as of September 1…The country must and will become a normal country,” he said, addressing parliament during the plenary debate on a draft bill introducing EU regulations on data privacy.
The amendment abolishes the statutes of the Act of Legislative Content that imposed capital controls on July 18, 2015.
Staikouras said the decision was taken in collaboration with the Bank of Greece and with the agreement of banks and European supervisory authorities.
He said capital controls were the result of a “chaotic, clumsy, opportunist and dangerous negotiation” conducted by the SYRIZA government of that time, while their lifting ended a “destabilising factor of insecurity” for Greece. Staikouras noted that the country’s economic indices were already improving and that there were clear signs of recovery, stability and strengthening of the Greek economy.
“Restoring the free movement of capital is a decisive step forward and steadily contributes to a further improvement of the country’s credit rating,” he added.
Source ANA – MPA
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