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Greece’s Bankers Smile as Customers Cancel Cash Withdrawal Orders

Smiles returned to the faces of bankers when customers started to call and cancel withdrawal orders from their bank deposits. And thus in the first hours after the branches opened on Monday after the June 17 elections.

According to an exclusive story by Proto Thema,  five managers working at the branches of large banks confirmed that between 8 am and 1 pm several customers had cancelled the orders they had given last Thursday and Friday. 

“Calmness has returned. The phone rings only for cash withdrawal cancellation,” the director of a major bank told ProtoThema under conditions of anonymity.

The same atmosphere is spread among foreign banks with a strong presence in London that have been opening dozens of bank accounts on a daily basis in the British capital.

 ”Some customers who were about to transfer money abroad canceled their plans until further orders. The money stays in Greece” a bank manager said.

Over the past two months this bank branch had opened more than 3,000 bank accounts in London for amounts  € 100,000 and above.
 
The question now is whether the money sent abroad will return and when.

It is estimated that more than 30 billion euro have left Greece for banks in Switzerland, Great Britain, Cyprus, Germany, Malta and other eurozone member countries.  

 ”This money is expected to need longer to return to Greece, one should not expect it would return in the next three months,” bankers told ProtoThema.  The political situation needs to stabilize first…

PS I wonder what this UK-based company is doing right now, that was apparently about to print Greek Drachmas….

 

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3 comments

  1. The London printer (De la Rue) prints banknotes for many many countries of the world.

    Probably the design they had made for an African country would be used for Greece — possibly featuring Papandreou sitting on top of an elephant. I doubt that they lost any money 🙂

  2. Bankers never loose, their loses are simply transferred onto the backs of the public with the full participation and backing of those elected to serve US ? – Guess why bankers are smiling now…..isn’t this a neon sign to everyone and confirms that Greece voted to continue this system of blatant theft.
    Sadly the banks won and the people lost…..