Greek bank deposits drop for third month in a row in March
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
Infectious Disease Committee ‘green light’ re-opening of high schools on February 1st – The measures from January 25thmakis - Jan 22, 2021
The experts of the Committee of the Ministry of Health gave the “green light” on Friday for the opening of…
EU teleconference Summit: Concerns over Covid-19 mutations and delay in vaccinesmakis - Jan 22, 2021
PM Mitsotakis’ proposal for a European vaccination certificate, which would facilitate travel without the need for a coronavirus test for…
Crete is the most popular holiday destination for BritsPanos - Jan 21, 2021
Crete is the most popular holiday destination for this year’s tourist season for the Brits, according to online searches made in…