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Athens: Greek banks are on the verge of running out of money as capital flight continues (Photo: and641)

Tsipras announces capital controls

Greece is to become the second eurozone country to impose capital controls on Monday, in a bid to prevent the collapse of the country’s financial system.

The decision was taken at a meeting of Greece’s financial stability council on Sunday (28 June), another tumultuous day for the eurozone.

Prime minister Alexis Tsipras addressed the Greek people following an emergency meeting of his cabinet on Sunday evening to announce that the Bank of Greece was obliged to introduce capital co...

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

Athens: Greek banks are on the verge of running out of money as capital flight continues (Photo: and641)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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