A so-called silent bank run has been going on for several months in Greece as customers steadily withdraw cash. An Athens bank clerk tells the Guardian (via @taniabranigan): “I’ve been working in a bank for 31 years, and I’ve never seen a panic like this.”Rather than keep money in liquid accounts, Greeks are paying extra to put their money in a safety deposit box in the basement.
Others feel safer with the shoebox approach:
One senior investment banker… tells a story about an acquaintance who took out €30,000, wrapped it in a bag and stashed it in his garage. “The bag had previously had some food inside,” he says. “So it attracted rats, who ate the notes.”