More “warning bells” sounded on Monday regarding the course of the still recession-battered Greek economy, with roughly 750 million euros leaving Greek banks’ vaults in February 2017.
The negative development means that deposits in Greek banks eased to 119.07 billion euros from 119.75 billion euros in the previous month, January 2017.
The figure is the lowest since October 2001, a few weeks before Greece entered the Euro monetary union.
A continuing outflow of deposits from Greek banks – despite still imposed capital controls – led to an increase in the ELA ceiling this month, which reached 46.6 billion euros.
While private depositors, households and businesses were apparently withdrawing money, the general government’s deposits were up by 150 million euros, significantly reversing a 34-million decrease recorded for January 2017.
