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Time is ripe for lifting of capital controls, Pitsiorlas says

Time is ripe for lifting of capital controls, Pitsiorlas says

“A different climate is arising in the economy after the successful completion of the stress tests on Greek banks and conditions are now ripe for the lifting of capital controls. There is no reason to prolong their existence and this will help the inflow of capital and the course of the economy,” Deputy Economy Minister Stergios Pitsiorlas said on Monday.

Addressing a conference on “Investments in Greece and Development Prospect 2018″, Pitsiorlas said the economic climate was improving in the country but noted that emphasis should be given on a dialogue with the labour movement, since social cohesion was crucial on the road to growth. He stressed that investments were a matter of climate, so that coordination by all sides was needed to fully exploit all available funds and further promote exports”.

Pitsiolas said the government was seeking a post-memorandum status that will autonomously define the economic policy mix. An agreement with the institutions has difficulties but the result will be good and Greece will get a good agreement that allows it the freedom to plan for the future, changing the way the country had acted so far and placing emphasis on synergies and cooperation, he noted.

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