Greek bank deposits drop for third month in a row in March

27 April 2016
616 Views

Greek bank deposits fell in March for the third month in a row, data released by the country’s central bank showed on Wednesday.

Business and household deposits decreased by 210 million euros, or 0.17 percent month-on-month to 121.47 billion euros ($137.5 billion), their lowest level since July 2003. They had declined to 121.68 billion euros in February.

Greek banks have seen only a trickle of deposit inflows eight months after the country clinched a third international bailout to stay in the euro zone. They remain hooked on central bank borrowing to plug their funding gap.

Greece’s banking sector saw a 42 billion euro deposit outflow from December to July last year. Capital controls imposed on June 28 helped contain the flight, which sharply increased banks’ dependence on emergency liquidity assistance (ELA) from the Bank of Greece.

You may be interested

Coronavirus Greece: 2,702 new cases, 431 intubated, 40 deaths
GREECE
shares18 views
GREECE
shares18 views

Coronavirus Greece: 2,702 new cases, 431 intubated, 40 deaths

Panos - Mar 04, 2021

The Greek authorities announced today that the new laboratory confirmed cases of coronavirus recorded in the last 24 hours in…

Bloomberg: Turkey widens war tech hunt by tapping Pakistan’s China ties
DEFENCE
shares20 views
DEFENCE
shares20 views

Bloomberg: Turkey widens war tech hunt by tapping Pakistan’s China ties

Panos - Mar 04, 2021

Turkey is pushing to co-manufacture warplanes and missiles with Pakistan, a hookup that could also give it access to prized…

Golden Globe Awards 2021: Borat 2 wins best comedy film
WORLD
shares33 views
WORLD
shares33 views

Golden Globe Awards 2021: Borat 2 wins best comedy film

Panos - Mar 02, 2021

The movie “Nomadland” and the much-discussed sequel to “Borat” were the big winners of the 78th Golden Globe Awards 2021,…

Leave a Comment

Your email address will not be published.