Greeks pull out more deposits


(MENAFN) Greek banking officials stated that more Greeks are pulling out their deposits from local banks due to political and economic volatility, reported AP. Greek depositors have gradually pulled out around USD90.24 billion since late 2009, with total household and corporate deposits reaching USD207.94 billion in April. Officials said that following last months elections, money withdrawal increased, and accelerated further during the recent days, as the country prepares to host a new vote on Sunday. The coming elections would decide whether Greece would remain a member of the one-currency bloc or would leave it, however, in case the anti-austerity leftists win, international financial aid would stop, moreover, Athens will have to leave the euro zone and to revert to its old currency, the drachma. It is worth noting that in a few days after the May 6 vote, Greeks pulled out around USD1 billion.


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