Deposits in Greek banks fell by 4.9 billion Euros only in
April, reaching its lowest level in more than 10 years, according to the Bank
of Greece.
The total volume of savings has shrunk to 133.7 billion Euro,
which is a record low since September 2004. Deposits in Greek banks decreased
for the seventh consecutive month.
Since the end of November last year to April this year
Greeks withdrew 30.6 billion Euros from their accounts. According to the
Central Bank the daily outflow from the banksis
between 100 and 500 million Euros.
This reduction in liquidity in the banking sector makes it
entirely dependent on funds from the European Central Bank via the mechanism of
emergency liquidity assistance / ELA /.
Last week, the ECB raised the margin of
money in ELA to 80.2 bln Euros.
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