GREECE IN PANIC: Citizens withdraw £2.1bn from banks in 45 DAYS amid default fears
GREEK citizens have taken more than £2billion out of their bank accounts in just 45 days as they fear the economy is set to crash.
By SIOBHAN MCFADYEN
Express.co.uk
Sun, Feb 19, 2017
And they are stashing the cash under their mattreses, in safes and in furniture amid a new run on the banks, it has been claimed.
Greece faces running out of money in just five months as it faces repayments of more than £5.1bn (€6bn) which they will not be able to achieve without help or restructuring.
Despite capital controls preventing individuals withdrawing more than £1,540 (€1,800) per month from their accounts, money has been vanishing at an expedited rate, with projections the Government will default when their next payment is due in July.
Deposits are dwindling to lows not seen for 14 years as the population worries that the conditions which plagued the country before bail out will return.
In December business and household deposits fell by £2.92bn (€3.42bn), or 2.7 per cent month-on-month, to £104.2bn (€121.38bn), their lowest level since July 2003.
The latest figures showing the rate of withdrawals are being blamed on the Syriza government’s rhetoric on Grexit and the potential it will default on its International Monetary Fund (IMF) and European Central Bank (ECB) loans.
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