ATHENS: Political stability and the successful recapitalisation of Greek banks are needed before Greece can lift capital controls imposed in June to avert a financial meltdown, the chairman of Greek lender Eurobank said on Monday.
Greece was forced to shut its banks and impose limits on withdrawals and capital movements to keep them from collapsing, when its talks with lenders over a third bailout hit an impasse and Greece risked having to quit the euro.
Up to 25 billion euros of Greece’s latest, 86 billion euro (63.20 billion pounds) bailout by the EU and IMF have been set aside to recapitalise ailing lenders by the end of the year.
