Using bitcoin could allow Greeks to do one of the things that capital controls were put in place to prevent: transfer money out of their bank accounts and, if they wish, out of the country.
Banks across Greece may have reopened their doors after a forced holiday of over three weeks on Monday but almost all banking transactions are still prohibited for households and enterprises, and will stay that way for some time yet.
Why did the IMF go through 5 months of ‘negotiations’ with Greece in which they refused any and all restructuring, only to come up with a paper that says Greece desperately need restructuring?
Greece heads to a referendum on Sunday that could decide whether its future lies in or out of the eurozone, with its banks closed and capital controls in place after the European Central Bank decided not to further increase the ...
Should no deal surface within the next two weeks, Athens will undoubtedly have to implement some sort of capital controls.
Greek bank deposits have fallen to their lowest in more than a decade. New statistics show that Greeks are worried about their new government's slow negotiations with creditors, giving them good reason to withdraw savings.
The European Central Bank may increase haircuts for Greek banks accessing Emergency Liquidity Assistance, in an attempt to rein in the very critical emergency liquidity which has kept Greek banks operating in recent weeks as the bank run sweeping the ...
Did Greece just launch capital controls? Alexis Tsipras has ordered a "mandatory cash transfer" decree due to an "extremely urgent need" for cash, which is all but run out.
Greece issued a legislative act on Monday requiring public sector entities to transfer idle cash reserves to the country's central bank, as part of efforts to deal with a cash squeeze. Greece has been tapping into the cash reserves of ...
Cyrus President Nicos Anastasiades has announced that all capital controls imposed on the island in the 2013 depositor haircut will finally be lifted on Monday. Cyprus can now live under EU misery without banking restrictions.