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Greece eases capital controls in stock exchange transactions, eyes full lifting of restrictions in 2016

Xinhua, December 8, 2015 Adjust font size:

Greece eased on Tuesday the capital controls in stock market transactions imposed in late June, according to a Finance Ministry decision.

As of Tuesday, according to the decision which was formally published in the Government Gazette, Greek investors will be able to buy stock shares using so-called "old money" that was blocked in domestic accounts in the context of efforts to avert a possible collapse of Greece's banking system.

On June 29, while Greece had not yet reached a new bailout agreement with international lenders and concern of imminent default and Grexit had skyrocketed, the government introduced capital controls for all Greeks that are gradually eased.

Over the past five months Greek investors - in contrast with foreign investors - were able to buy shares only with "fresh money."

The step came as the government eyes the full lifting of restrictions in 2016, after the stabilization of the ailing economy.

Economy Minister George Stathakis appeared confident in an interview with "Vima" (Tribune) daily that the full lifting of all capital controls will come within the new year. Endit