Greek Capital Controls To Remain For Months As Germany Pushes For Bail-In Of Large Greek Depositors

Sunday, July 26, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
07/26/2015

With every passing day that Greece maintains its capital controls, the already dire funding situations is getting even worse, as Greek bank NPLs are rising with every day in which there is no normal flow of credit within the economy. This has led to a massive bank funding catch-22: the longer capital controls persist, the less confidence in local banks there is, the longer the bank run (capped by the ECB’s weekly ELA allotment), the greater the ultimate bail out cost, and the greater the haircut of not only equity and debt stakeholders but also depositors.

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