Clifford Chance

The euro area and capital controls

29 May 2015

Contingency planning around the problems faced by Greece inevitably turns to the possibility of capital controls, whether in the context of a default or a departure from the euro area.  What are capital controls and how will they affect a party's ability to enforce its contractual rights?  In this briefing, we consider the legal framework surrounding capital controls, what agreements they could affect, and how.

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