Greece’s government on Monday ruled out imposing controls over capital flows over the upcoming long weekend, after an opposition lawmaker suggested the move if the country fails to strike a deal with its creditors soon.
Gabriel Sakellaridis, the spokesman for the Greek government, reportedly said that the speculation of imposing capital controls was “unfounded and malicious”.
Earlier, New Democracy MP Dora Bakogiannis said on national television that the government may be forced to impose capital controls in banks if it fails to reach a deal with international creditors before the upcoming three-day long Pentecost weekend.
She urged Prime Minister Alexis Tsipras to bring a deal to the Parliament fast to secure approval. The lawmaker also urged all opposition parties to back the deal and suggested that the country should face elections afterwards, Greek media reports said.
Cyprus is the only country in Eurozone to have imposed capital controls, which lasted two-years, ending just last month. The country was forced to impose restriction on capital flows in March 2013 following a European bailout from a severe banking crisis.
Greece, which was the first country to be bailed-out by EU/IMF in 2010, is still struggling and needs to secure more funds to meet its payments.
Published: 2015-05-25 15:10:00 UTC+00
Greece Rejects Capital Control Speculation
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