Schaeuble considers capital controls in Greece

German FinMin Wolfgang Schaeuble considers the possibility of capital controls implementation in Greece in order to combat the crisis.

The decision to implement said capital controls is the exclusive responsibility of any member-country, he stated, when asked if he considers such a thing possible, during a Die Zeit interview with US economics professor Kenneth Rogoff to be published tomorrow.

During the chat between the two men, Rogoff suggested that Greece would implement capital controls for five or ten years in order to improve its economy. In this way, a euro in Greece will be of less value than one in Germany or France. This reason is why such measures are considered to be controversial.

Regardless of the capital controls issue, Schaeuble requested that the Greek government make a decision about the country’s future in the Eurozone.

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