Calamos Supports Greece
GreekReporter.comGreek NewsEconomyGreek Bank Deposits Drop by 8 Billion Euros in June

Greek Bank Deposits Drop by 8 Billion Euros in June

euroBank deposits in Greece fell to 127.5 billion euros in June, whereas in May 2015 they amounted to 135.7 billion, according to data released by the European Central Bank (ECB).
Furthermore, Reuters noted that this is the lowest level in bank deposits since the end of 2003, demonstrating how dramatically the condition of Greece and Greek banks had worsened, even before the imposition of capital controls.
The reason behind the further decrease in deposits was the people’s fear of an exit from the Eurozone, a fact that led savers and companies across Greece to withdraw their funds from the country’s banking system.
Since June 28, when the imposition of capital controls was officially announced by the Greek Finance Ministry, banks in Greece have now reopened, however with limited services available.
New measures were implemented in order to facilitate companies in their transactions abroad but the majority of people are still living on the 60-euro per day limit, only they are now able to withdraw the cash total at the end of the week so they do not have to visit an ATM machine on a daily basis.

See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!



Related Posts