Bloomberg
January 10, 2012
Greek bank deposits by businesses and households fell 2 percent in November as the then Premier George Papandreou announced and then ditched a referendum on international aid, putting the country’s euro-area membership into question.
Deposits dropped to 172.9 billion euros ($220.9 billion) in November from 176.4 billion euros the previous month, according to a statement released by the Bank of Greece on its website today. Deposits have declined 36.7 billion euros, or 18 percent, since December 2010.
Bank of Greece (TELL) Governor George Provopoulos said on Nov. 29 that the deposit flight continued early in November after Papandreou called and then dropped plans for a referendum on the terms of an Oct. 26 second aid package for the country. Deposits stabilized after Lucas Papademos, a former vice president of the European Central Bank, replaced Papandreou on Nov. 11, he said.
“The figure certainly showed an improvement compared to September-October respective figures, however in absolute terms it is still large,” Panagiotis Kladis, an analyst at Athens- based National Securities, said in an e-mailed note.
More
No comments:
Post a Comment