Greek Economy under Alert due to Millionaire Withdrawal

Yorgos Provopulos

The political instability and the impossibility of creating of a Government in Greece has lead the Greek people to withdraw millions of Euros from their saving accounts.

Last Monday 700 million of Euros were removed from several banks in Greece. The Greek president Karolos Papuilas, explained to political leaders that in the next few days the situation will be worse.

According to the Bank Governor of Greece, Yorgos Provópulos, “The strength of the banks is too small in these moments.” The statistics of the Bank of Greece revealed that in the first two months of the year over 10,000 million Euros in deposits where removed.

Since 2009 the crisis has caused the banks to loose around 3,000 million of Euros in savings every month. (AV)