Thursday, Apr 08, 2010
Greek Bank tellers working overtime
Fundstrategy: Greek banks seek bail-out to counter €10 billion outflow
Greece’s four biggest banks are seeking state aid after savers took €10 billion (£8.8 billion) worth of deposits out of the financial system. According to the Financial Times, in the first two months of the year local savers moved deposits out of Greek banks to the value of about 4.5% of the total banking system. George Papaconstantinou, the Greek finance minster, said yesterday the banks–Alpha Bank, EFG, Eurobank, National Bank of Greece, and Piraeus Bank–had asked for access to the remaining funds of a €28 billion support plan.
Posted by jack c @ 01:53 PM (395 views) Add Comment
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