ECONOMY

Finance Ministry makes changes to capital controls

finance-ministry-makes-changes-to-capital-controls

The government has made seven changes to the restrictions on the movement of money within Greece and abroad.

In legislation published late on Monday, the Finance Ministry now allows the transfer of 500 euros a month abroad.

It also permits parents to send a lump sum of 8,000 euros abroad to cover the expenses of children who are studying outside of Greece. The previous limit was 5,000 euros.

Greeks will now be allowed to open bank accounts, which they had not been able to do since capital controls were introduced on June 29, but only for paying bills or servicing loans. They will not be able to withdraw cash from these accounts.