Following the capital controls imposed on the Greek banking system, it is useful to address certain lawful alternatives for businesses to carry out transactions with their clients and suppliers and to pay their staff.
A. The restrictions imposed through the bank holiday (Capital Controls)
In accordance with Legislative Act dated 28.06.2015, as currently in force, the period between June 28 and July 6, 2015 is declared to be a bank holiday during which all credit institutions operating in Greece under any form whatsoever, including any branches of foreign credit institutions, shall be closed for business. This time period may be extended by... Continue reading