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Greece Ends Crisis-Era Capital Controls

Associated Press

   ATHENS - 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 Monday as limits were
   lifted on international business transactions, overseas cash
   withdrawals and money sent to students studying abroad, among other
   cash curbs.

   Capital controls were imposed in 2015 during a standoff between
   international bailout lenders and the previous Greek government that
   triggered a three-week closure of Greek banks and severe limits placed
   on cash withdrawals. Greece eventually signed up to a third consecutive
   bailout agreement and the banking restrictions were later gradually
   dismantled.

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

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