Reuters
November 9, 2011
Fearful Greeks have withdrawn savings from banks over the past week because of a deepening political crisis and fear of an exit from the euro, banking sources said on Wednesday.
Greeks withdrew as much as 5 billion euros -- nearly 3 percent of total deposits -- after outgoing Prime Minister George Papandreou's shock call last week for a referendum on a euro zone bailout, said one banker, who declined to be named.
"Many people withdrew their money from banks on Thursday and Friday and money couriers had a hard time supplying banks with cash to satisfy the emergency demand," said another banking source, who declined to be named.
Greece's central bank governor made a rare public appeal for a new government to take charge and end the dithering and has warned that Greece's euro zone membership is at stake.
"The (political) uncertainty is hurting the economy and the banking system," Bank of Greece governor George Provopoulos told Reuters. "There must be a strong government that will work hard to ensure the country's future in the euro zone."
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