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Capital Controls

How Bad Was The Run On Greek Banks?

HuffPost Greece | Charlotte Alfred | Posted 07.21.2015 | World

The amount of money withdrawn from Greek banks last month was unprecedented, according to Greece's central bank. The Bank of Greece said Monday that ...

Talking to Our Children About Capital Controls

Stella Kasdagli | Posted 07.06.2015 | Parents
Stella Kasdagli

My 5-year-old was bawling her eyes out on the way home. She wanted an ice cream cone, a croissant, a bottle of orange juice, some cookies -- everything I had just explained she will have to cut down on while we have access to just 60 euros per day through the bank ATMs.

Elderly Greeks Try To Claim Their Pensions Amid Crisis

The Huffington Post | Nick Robins-Early | Posted 07.01.2015 | World

Thousands of elderly Greeks gathered at banks around the country on Wednesday after a number of branches temporarily opened to allow them to collect 1...

Greece In Shock As Closed Banks And Capital Controls Imposed

Reuters | Posted 06.29.2015 | World

By Michele Kambas and Lefteris Papadimas ATHENS, June 29 (Reuters) - Stunned Greeks faced shuttered banks, long supermarket lines and overwhelming ...

Greece To Close Banks And Stock Exchange On Monday

Reuters | Posted 06.29.2015 | World

By Lefteris Papadimas and John O'Donnell ATHENS/FRANKFURT, June 28 (Reuters) - Greek banks and the stock exchange will be shut on Mond...

Iceland: Hayek Got It Right

Steve H. Hanke | Posted 06.09.2015 | Business
Steve H. Hanke

Iceland provides a concrete example that supports Hayek's conclusions about capital controls: "Complete delivery of the individual to the tyranny of the state" and "the suppression of individual liberty."

Russia Is Worried About the Wrong Neighbor - A case of Continuously Poor Leadership

Edward Goldberg | Posted 07.07.2014 | World
Edward Goldberg

Whether on account of poor leadership, or the curse of being blessed with extraordinary energy resources, modern Russia has for now lost the only power game that really counts today: the game of globalization.

Top Democrats Push Obama on Capital Controls

Sarah Anderson | Posted 07.25.2012 | Business
Sarah Anderson

Despite their proven effectiveness in many cases, these policy tools are prohibited by U.S. trade and investment policies. Particularly in the wake of the worst financial crisis in 80 years, it's an embarrassingly outmoded position.

Getting Around Geithner

Sarah Anderson | Posted 04.29.2012 | Politics
Sarah Anderson

In the wake of the worst financial crisis in 80 years, I thought it would be a no-brainer for the U.S. government to give up its longstanding policy of banning capital controls through trade agreements.

What I Learnt in Rio: Discussing Ways to Manage Capital Flows

Olivier Blanchard | Posted 08.03.2011 | Business
Olivier Blanchard

Governments have five tools to adjust to capital flows: monetary policy, fiscal policy, foreign exchange intervention, prudential tools, and capital controls. The challenge is to find, for each case, the right combination.

Avoiding Another Year of Living Dangerously: Time to Secure Financial Stability

José Viñals | Posted 06.13.2011 | Business
José Viñals

We've slipped well beyond a year and the financial system is still flirting with danger. Durable financial stability has, so far, proven elusive.

Global Recovery Strengthens, Tensions Heighten

Olivier Blanchard | Posted 06.11.2011 | Business
Olivier Blanchard

The need for careful design of economic policies at the national level, and coordination at the global level, may be as important today as they were at the peak of the crisis two years ago.

Nanjing and the New International Monetary System

Dominique Strauss-Kahn | Posted 05.31.2011 | Business
Dominique Strauss-Kahn

The current international monetary system has certainly delivered a lot. But it also has flaws that need to be fixed, especially if the next phase of globalization is to succeed in bringing a strong and broad-based rise in living standards.

The Future of Macroeconomic Policy: Nine Tentative Conclusions

Olivier Blanchard | Posted 05.25.2011 | Business
Olivier Blanchard

We've entered a brave new world in the wake of the crisis; a very different world in terms of policy making and we just have to accept it.

A Stronger Financial Architecture for Tomorrow's World

Dominique Strauss-Kahn | Posted 05.25.2011 | Business
Dominique Strauss-Kahn

Reform of the international monetary system is wide-ranging and complex. Global debate is only just starting. But we must all recognize that this is not something academic or abstract. We need concrete ideas.

IMF: Capital Controls Can Be A 'Legitimate' Policy Tool

BusinessWeek | Sandrine Rastello | Posted 05.25.2011 | Business

Feb. 19 (Bloomberg) -- Capital controls are a 'legitimate' tool in some cases for governments facing surges in investment that threaten to destabilize...

Managing Large Capital Flows

Marek Belka | Posted 05.25.2011 | Business
Marek Belka

In our highly globalized economy, large and rapid flows of money across borders are here to stay. The challenge for emerging economies is to find ways to manage these flows so that they don't exacerbate boom-bust cycles.