The Mercury



GREECE’S prime minister says the country will soon lift the last remaining restrictio­ns imposed on bank depositors more than four years ago at the height of the country’s financial crisis. Kyriakos Mitsotakis said yesterday that the removal of the restrictio­ns, known as capital controls, next week will end a long “cycle of insecurity.” The restrictio­ns mostly concern movement of funds abroad, for both individual­s and businesses. Greek authoritie­s imposed the measures in June 2015 to stop a developing bank run as depositors panicked by the government’s escalating clash with its bailout creditors made mass cash withdrawal­s. At first, depositors were only allowed to withdraw €60 (R1 018) a day, but the limit was gradually relaxed and then scrapped. Greece was kept afloat by internatio­nal bailouts from 2010 to 2018. | AP

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