FinMin: €65 Bn Withdrawn from Greek Banks Since 2009

Posted by in Economy

The uncertainty about a possible bankruptcy and euro exit, but also increased taxes and unemployment haveforced Greeks to withdraw the incredible amount of 65 billion euro from the banks since 2009. Speaking at the parliament, Finance Minister Evanhgelos Venizelos revealed these data, noting that only €16 billion were transferred to banks abroad. Some 1.6 billion are deposited in banks in Switzerland and 5 billion euro in banks in the UK.

The remaining €49 billion that the Greek withdrew from the banks in order to save them should there be a return to drachma, “have been kept in bank deposit boxes, in chests, basements, attics and under the mattresses. These are the traditional savers” said Venizelos and warned about further deterioration of the Greek banking system. “The return of the savings to the banks must be a big target. We don’t save the bankers and the big investors but the functioning of the banking sector. Without it there is no economy, developments, work places. We struggle to save the net of the Greek economy”, he added.

sources:To Vima, and other Greek media


PS My aunt has been complaining about her bed mattress being uncomfortable. Now, I know why….