Bank Run Full Frontal: Ukrainians Withdrew 7% Of All Deposits In Two Days
by Tyler Durden
Well that escalated quickly. It seems the ouster of Yanukovych, heralded by so many in the West as a positive, has done nothing to quell the fear of further economic collapse in Ukraine:
*UKRAINIANS WITHDREW AS MUCH AS 7% OF DEPOSITS FEB. 18-20: KUBIV
*DEPOSIT WITHDRAWALS STILL HIGH IN THE EAST, KUBIV SAYS
This is around a 30 billion Hyrvnia loss in just 2 days for the banks and the new central bank chief is considering “stabilizing loans” to help banks deal with the liquidity crisis (though Ukraine’s reserves stand at a mere $15 billion).