Tuesday, March 28, 2017

#Grexit Looms Large Again - Greek Banks Haemorrhaging Cash

Greece’s beleaguered banking system has taken a fresh hit from the country’s shaky bailout talks this year, registering its worst deposit outflows since the height of its debt crisis in the summer of 2015.

The FT reports that the latest figures from the European Central Bank showed households and businesses pulled €1.1bn from the country’s lenders last month, moderating from the €1.7bn withdrawn at the start of the year but marking the worst two-monthly outflow since the country was bought to the brink of a eurozone exit nearly two years ago.

For why?

There is no sign of agreement between Greece and the Quadriga wrt the bailout. Indeed there is no sign of agreement between the IMF and other members of the Quadriga over the terms of the bailout!

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