Smaller im­pact.

Kathimerini English - - Focus -

Greece’s econ­omy did not suf­fer as much as feared from the im­po­si­tion of cap­i­tal con­trols, its fi­nance min­is­ter said yes­ter­day, say­ing the coun­try still had plenty of un­tapped growth po­ten­tial. Eu­clid Tsakalo­tos told law­mak­ers the fall­out from cap­i­tal re­stric­tions im­posed in June was milder than ex­pected, and would man­i­fest in the third and fourth quar­ters of 2015. “We are [also] on a bet­ter course than I had ex­pected on bank re­cap­i­tal­iza­tion. I am more op­ti­mistic to­day than I was a month ago,” he said. said yes­ter­day. “The ex­pec­ta­tion is that if the eco­nomic en­vi­ron­ment re­mains sta­ble cap­i­tal con­trols can be lifted in the first quar­ter of 2016,” he told law­mak­ers. Greece im­posed cap­i­tal con­trols in June to pre­vent a cash run on its banks. There has been a very grad­ual eas­ing for do­mes­tic con­trols, but the bulk of re­stric­tions re­mains in force.

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