Capital Controls at Greek Banks Scaled Back

In efforts to normalize the banking and business climate in Greece, the country’s Banking Transaction Committee has eased capital controls imposed on June 28.

The decision, published in the Government Gazette, allows special subcommittees at Greek banks tasked to review requests by customers (legal persons or traders) to transfer money abroad (for the commodity market, import of goods etc) to approve up to 30.8 million euros in transactions (via wire transfer or money order) per month.

The monthly limit, meanwhile, for individual depositors is now set at 500 euros.