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No Deal Brexit and Capital Controls

(4 Posts)
TiredTigger Sun 04-Aug-19 12:56:30

I do not know a lot about economics, e.g. had to look up 'keynesian economics' to try to understand what was being said on another thread.

However, with my limited knowledge I seem to recall that Greece implemented capital controls in 2015 in order to stop the ensuing capital flight.

I am really concerned about this as we will be living in the EU after Brexit, yet some of our income will be coming from the UK.

Does anybody know about the likelihood of this happening with a no deal Brexit?

bellinisurge Sun 04-Aug-19 17:42:58

Sorry @TiredTigger , I've lived in countries with this but I've no idea whether it would happen to us. I'm kind of hoping our economy is strong enough to take "contraction" without resort to extreme measures of that nature.

jasjas1973 Sun 04-Aug-19 18:02:05

Where i used to live the CC were for large amounts of money, not the amounts you might be taking as income.

I think at the height of the Greek crisis, the limit was 1800 euros per month, its in the 1000s now.

But the far bigger problem for you, isn't the amount of sterling you might be able to take out but how much will it be worth.

TiredTigger Sun 04-Aug-19 21:31:13

@bellinisurge
@jasjas1973

Many thanks. Have tried to talk to people in RL about this, but keep on being told not to worry as everything will turn out fine...hmm

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