Search This Blog

Wednesday, December 7, 2011

Anxious Greeks Emptying Their Bank Accounts

A branch of the Greek central bank. Bank deposits are falling rapidly.

of the Greek central bank. Bank deposits are falling rapidly.

Many Greeks are draining their savings accounts because they are out of work, face rising taxes or are afraid the country will be forced to leave the euro zone. By withdrawing money, they are forcing banks to scale back their lending -- and are inadvertently making the recession even worse.

Read More: http://www.spiegel.de/international/europe/0,1518,802051,00.html

No comments:

Post a Comment