The Slow-Motion Collapse of Greek Banks

The Slow-Motion Collapse of Greek Banks

The Slow-Motion Collapse of Greek Banks

Moneybox
A blog about business and economics.
May 17 2012 7:56 AM

The Slow-Motion Collapse of Greek Banks

The Guardian has a good look at the "bank jog" destroying the Greek banking system in its own weird way. They note that "nearly a third of bank deposits were withdrawn between January 2010 and March 2012" which is alarming but also a mighty leisury schedule for a panic. Then since the May 6 elections that have cast the future of Greek participation in the Euro into doubt a further €3 billion has been withdrawn "with tellers saying savers were making two or three visits a day to local banks."