For possible default, capital fleeing Greek banks – Los Andes (Argentina)

The emergency meeting next Monday to close a deal for Greece will not fall into default left upbeat and happy the Greek premier Alexis Tsipras, who yesterday was highly satisfied.

Another thing happened to savers who keep money in Greek banks. Before interpreted as a climate of complete uncertainty about the future of the Hellenic country in the euro and the possibility of a “corralito” and capital controls, tickets are fleeing accounts in Greece at dizzying speeds.

So yesterday the governing council of the European Central Bank (ECB) is meeting in an extraordinary way to decide whether to extend the emergency liquidity assistance to Greece, following the intensification of capital flight.

The French member of the ECB Executive Board, Benoit Coeuré even doubted Thursday that Greek banks to open on Monday, in an environment of great uncertainty. It is estimated that on Thursday Greek banks left more than 1,000 million euros.

banking circles quoted by Greek media claimed that the situation is “controlled” and recalled that in June 2012, in the heat the convening of the second general election in just one month, deposit outflows were twice that is taking place now.

The Greek government reacted sharply yesterday to reports in the press, according to which was preparing a plan of capital controls, and said that this type of information only pursue “rioting” and “destabilize the economy.”

The ECB is now discussing a request for an urgent increase in provision liquidity more than 3,000 million euros from the Bank of Greece, according to the ECB, it is part of normal procedure. Already yesterday, the ECB had increased by 1,100 million euros the provision of emergency liquidity to Greek banks.

The meeting on Monday will be one of the last opportunities to find an agreement before the June 30 date in which Greece must pay 1,500 million euros to the IMF to avoid default.

Athens coffers are empty and it is likely that the government of Tsipras have to choose between paying the IMF or pay salaries and pensions of civil servants.

The Eurogroup chairman Jeroen Dijsselbloem said on Thursday it was too late, even if an agreement is signed, to 7,200 million euros in Greek rescue delivered before 30 June. A possible default of Greece to the IMF is increasingly evident, as well as a departure of the eurozone, a situation known as “Grexit” possibility.