The latest move, which follows easing of transactions abroad, is directed at small entrepreneurs, for years the lifeline of the Greek economy, and individual depositors. Capital flight became one of the signature failures of Greece’s ability to wrap up tortuous negotiations with creditors at the EU and IMF last year. Related: Greece's economic crisis goes on, like an odyssey without endThe relaxation of restrictions, whose announcement sent shockwaves through markets and the single currency, is aimed squarely at boosting banking confidence in the eurozone’s weakest member. For Pagoulatos that makes completion of Greece’s next bailout review, and the changes that will require, crucial to the country’s economic survival. “It will reduce the sense of political risk and together with short term debt relief measures allow the economy to make the shift to recovery.”

Source: The Guardian August 01, 2016 04:52 UTC