Katseli: Capital controls will have been lifted by early 2016

Capital controls will probably be lifted at the end of the current year or early 2016, the president of Hellenic Bank Association and National Bank governor Louka Katseli said.

Katseli stressed the importance of returning money to the Greek banks adding that 118 billion euros fled the Greek banks from 2008 to 2015.

Regarding the recapitalization, she expressed optimism that banks will tap the markets and cover any possible “gap”, and the rest will be covered by the Financial Stability Mechanism. Therefore, “provided that the conditions for political and economic stability are in place, this liquidity needs to be channeled to the real economy,” she noted.

On the issue of non-performing loans, she said that today one in two loans is a ΄bad΄ loan.


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