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As well as restricting cash withdrawals from banks, short-term exchange controls would be needed and the Schengen rights of free movement between Greece and other European Union countries might need to be suspended temporarily.
The decision to raise interest rates is one of a number of emergency measures taken by the regime in recent weeks, including the rationing of fuel, restricting cash withdrawals from banks, increasing public sector pay by 50% and doubling pensions.
Then, at the end of June, as tension between Greece and its creditors deepened and raised concerns among investors, the Greek government announced that it would temporarily shut its banks and enact capital controls — restricting cash withdrawals and transfers — to avert economic collapse.
The economic crisis is the toughest test yet of a safety net refashioned 13 years ago when President Bill Clinton kept a pledge to "end welfare as we know it" and joined a Republican-led Congress in sharply restricting cash aid.
He says restricting cash (he calls it "demonetization") will help boost the economy.
The ECB said there would be no need for Greece to impose capital controls restricting cash withdrawals after the deal.
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Prime Minister Wen acknowledged that measures to restrict cash withdrawals from banks were not the solution.
The 1996 law that restricted cash benefits included major cuts in food stamps benefits and eligibility.
The banking laws, which restrict cash withdrawals to $250 a week or $1,000 a month, have caused confusion and anger.
The latest renegades included 17 footballers.To keep prices down, the government has restricted cash withdrawals at banks to about $800.
The gains in compensation will not necessarily be reflected in New York's tax collections because the compensation overhaul could cause firms to sharply restrict cash bonuses.
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