Greek lessors have continued to receive income from rentals via electronic payments system despite the capital controls that were imposed on Greece’s banks, said the head of the Association of Greek Leasing Companies (AGLC).
Despite the fact that ATM withdrawals have been capped at 60, Yiannis Mavrelos, AGLC chairman, said leasing and rental incomes from non-defaulting leases continued to be received, with online transactions inside Greece unaffected by capital controls.
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Mavrelos told Leasing Life: "Even in a capital control environment, lessors are able to work to a certain extend. We are able to receive income from rentals because internet banking is working without barriers. Inflows of income continue to exist."
Mavrelos said that after the deal was reached between Greece and its European partners there has been a positive change in the confidence of market players about the future of the Greek economy.
You can read more about the Greek leasing environment in August’s edition of Leasing Life
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