Bank of Greece recommends total lifting of capital controls

The BoG Governor met with PM Mitsotakis on Friday

The Governor of the Bank of Greece (BoG), Yiannis Stournaras said he would recommend to the new government to completely lift the capital controls.
Exiting the Maximos Mansion where he met for the first time with newly elected Prime Minister Kyriakos Mitsotakis, Mr. Stournaras he believed the capital controls were no longer useful.

According to government sources, the two men discussed issues concerning the course of the Greek economy and the state of the banking system.

According to the same officials, Mitsotakis and Stournaras both agreed that the reform policies promoted by the government would promote stronger growth and create an additional budgetary cushion for the implementation of its program.
In addition, the government will combine the Bank of Greece and the Financial Stability Fund proposals to tackle the problem of “red” loans.

“We had a constructive conversation about the banking system and the economy”, Mr. Stournaras told reporters after the meeting.