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

27 April 2016
594 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

The Crusader castle of Chlemoutsi in the Peloponnese
GREECE
shares19 views
GREECE
shares19 views

The Crusader castle of Chlemoutsi in the Peloponnese

Panos - Jan 19, 2021

Imposing, and rich in history, Greece hosts countless medieval castles and fortresses. Each one has a different story to tell…Some…

Independent Panel says WHO and China failed to act fast in Covid-19 response
GREECE
shares33 views
GREECE
shares33 views

Independent Panel says WHO and China failed to act fast in Covid-19 response

Panos - Jan 19, 2021

The World Health Organization and Beijing could have acted faster when Covid-19 first surfaced in China, a group investigating the…

Cavusoglu openly threatens Greece with war in front of German Foreign Minister
GREECE
shares30 views
GREECE
shares30 views

Cavusoglu openly threatens Greece with war in front of German Foreign Minister

Panos - Jan 19, 2021

Greece and Turkey might have agreed to sit at the table for exploratory talks at the end of January, but…

Leave a Comment

Your email address will not be published.