The story of the moment: deposit flight!
That’s the nice way of saying: A run on the banks.
Sky News’ Ed Conway has put together this chart on the relative level of deposits in various countries’ banking systems since the beginning of 2011.
Greece has just been taken to the woodshed over the last year or so. Note that this doesn’t include the latest data, which would probably show an increasing in outflows over the last month and a half, as fears of a Grexit get even more real.
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