ECONOMY

Capital controls formally ended

capital-controls-formally-ended

Greece has formally ended the last remaining banking restrictions imposed four years ago during a financial crisis that saw the country nearly crash out of the eurozone.

The decision announced last week took full effect on Monday as limits were lifted on international business transactions, overseas cash withdrawals and money sent to students studying abroad, among other cash curbs.

Prime Minister Kyriakos Mitsotakis tweeted that “the abolition of capital controls is a necessary condition to attracting investment and growth.”

[AP]