EU Single Market legislation and banking directives have contributed to the liberalization and deregulation of the Greek banking industry. Foreign Exchange Controls Foreign exchange controls have been progressively relaxed since 1985. Medium and long-term capital movements have been fully liberalized. Most restrictions on short-term capital movements were lifted in 1994. Greece's foreign exchange market is now in line with EU rules on the free movement of capital.
Banks constitute the main source of financing.
The bond market is still embryonic. The Athens Stock Exchange is increasingly used as a source of capital financing. The Greek government has initiated legislation to encourage a venture capital market. Checks are predominately used for commercial transactions. Credit cards are widely available and used for retail transactions.