On June 28, 2015, Decision on introducing special protective measures, which was adopted by the National Bank Council due to the debt crisis in Greece at that time, was adopted
On June 28, 2015, Decision on introducing special protective measures, which was adopted by the National Bank Council due to the debt crisis in Greece at that time, was adopted. The measures were adopted in order to prevent significant disruption in the balance of payments and disruption to the stability of the financial system of the Republic of Macedonia due to possible significant capital outflows from the Republic of Macedonia to Greece.
The protective measures have attained the goal for which they were introduced, i.e. they prevented major capital outflows from the Republic of Macedonia, while not disturbing the business of domestic companies with Greek entities. The equilibrium in the balance of payments and the stability of the domestic banking system were maintained. As announced when they were introduced, the protective measures were temporary, for a maximum period of six months, and there was a possibility to prolong their application. But for some time, the situation in Greece has been stabilizing, the lenders continued their financial support of Greece, which, in turn, has obliged to apply economic and social reforms and austerity measures. Therefore, with the expiration of the six-month validity of the protective measures on December 28, 2015, or from December 29, 2015, this decision is no longer in use.
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