Tuesday 14 July 2015 9:23 pm

Athens capital controls to stay

GREECE may still need capital controls even if a new bailout deal is passed, with a leaked study from one of its creditors suggesting this would require a substantial amount of its debt to be cancelled. A study from the International Monetary Fund leaked to Reuters said the last two weeks of capital controls had damaged the Greek economy and that a chunk of its debt needed to be written off. But experts warn that capital controls, such as ATM withdrawal caps, could go on for much longer even if a deal on Greece is finalised.

Share
Tags: