Thursday, March 26, 2015

The massive outflow of deposits from Greek banks continued in February – The Economist

The outflow of deposits from Greek banks started last December withdrawals continued in February with a value of 7,570 million euros, announced today the Bank of Greece.

The Greek central bank said in a statement that since last December, total value of the withdrawal of deposits amounted to 23.829 million euros.

In late February, deposits of enterprises and households in Greek banks totaled 140.468 million euros compared to 148 042 000 euros one month before.

Most of the withdrawals, more than 5,000 million euros, took deposits from individuals, which at the end of February amounted to a value of 120.110 million euros compared to 125.465 million euros to end of January.

Time deposits, which in January amounted to 72.933 million euros, reached 68,800 million euros in February.

The outflow of deposits began last December when he started to emerge the early elections and intensified in January when they were removed over 13,000 million euros.

The decision of the European Central Bank on February 5 to wean Greece regular funding by not recognize more bonds Hellenes valid state as guarantor, and the slow pace of negotiations between the government and the country’s creditors helped fuel uncertainty.

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