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Report: Greek central bank recommends government to fully lift capital controls

The Bank of Greece has suggested the government fully lift capital controls that have been imposed in the country since June 2015, a senior official with knowledge of the matter told Reuters.

The source anticipated the move to be carried out in the first two months of autumn, according to the newswire.

Greece imposed the capital controls to prevent cash withdrawals from banks after the ECB declined to lift a cap on emergency liquidity assistance provided to lenders by the country's central bank. The restrictions, which include cash withdrawal limits of €60 per day, were gradually eased and fully lifted in October 2018. However, restrictions on transferring cash abroad remained.

The Greek central bank is carrying out an assessment study of the potential impact of the move and will send it to the government and Greek lenders, the source noted, while adding the government will decide whether to submit the legislation to the parliament.