Loans and Finance

Loans and Finance

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News and information about loans, money, debt, finance and business issues.

Wednesday, March 28, 2012

Greek Banks Have Guts Ripped From Them

Reuters reports that firms and consumers are, unsurprisingly, continuing to withdraw money from Greek banks.

Private sector deposits in Greek banks fell by 2.7%, after a 3% fall in January. Deposits at the end of February were Euro170.1BN, the lowest level since October 2006.
For why?

No one trusts the Greek financial system anymore.

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