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Greece further eases capital controls

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Greece further eases capital controls

Greece is further easing capital controls to boost confidence in its lenders,changing the cash withdrawal limit to €840 every two weeks from €420 each week,Reuters reported July 22.

Athens also raised the withdrawal limit for moneytransferred from foreign bank accounts to existing accounts to 30% of theamount transferred from 10%, the newswire said, citing a ministerial decisionpublished in Greece's Official Government Gazette.

Greece also allowed the withdrawal of cash for loanrepayments and lifted restrictions on withdrawals to make new deposits, thenewswire added.

However, Greece retained restrictions preventing people fromtaking cash out of the country, The WallStreet Journal reported the same day, citing the Greek ministry of finance.New deposits into banks in the country will be exempt from capital controls.

Athens' latest easing was approved by local lenders, aBank of Greece SA officialtold Reuters.