June 29, 2015 / 1:37 AM / 4 years ago

Factbox: Greece sets capital controls, six-day bank shutdown

ATHENS (Reuters) - Greece imposed capital controls and ordered banks to close temporarily after the European Central Bank froze a vital financial lifeline following the breakdown of bailout talks between Athens and foreign creditors.

Here are the main measures adopted by the government:

- Banks will close until to July 6. All credit institutions in Greece, including branches of foreign banks, are affected.

- The finance minister may shorten or extend the bank holiday period.

- ATMs will open from Monday afternoon. Daily cash withdrawals will be limited to 60 euros. The limit can be changed by the finance minister.

- Payments via debit or credit cards to accounts within Greece and online banking transactions within Greece will be allowed but payments and transfers to accounts outside Greece are prohibited.

- Cash withdrawals at ATMs with bank cards that have been issued by foreign banks will be allowed. Withdrawal limits may be set by the finance minister.

- All other transactions will not be permitted.

- A special committee will approve banking transactions deemed necessary to safeguard a public or social interest, including medical expenses or pharmaceutical imports.

- Pension payments will be exempt from capital controls.

- Interest surcharges on due payments will not be allowed during the bank holiday period.

- Banks breaching the rules face fines of up to 10 percent of the amount of any transaction violating the control measures.

Reporting by George Georgiopoulos; Editing by Toni Reinhold

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below