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Greek banks saw a further €5.6 billion reduction in deposits, as panicked savers fear default or capital controls. (Photo: Queenofhearts820)

Greek bank deposits hit decade low

Deposits held by Greek banks have fallen to their lowest level in a decade, according to statistics released on Friday by the European Central Bank.

Total deposits from households and businesses in April stood at €139.4 billion, a €5.6 billion decline - equivalent to 3.9 percent - from March, the ECB reported. Deposits fell by €27 billion over the first four months of 2015, a rate of around €1.5 billion each week.

Capital flight from Greek banks has been going on steadily since Gr...

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

Greek banks saw a further €5.6 billion reduction in deposits, as panicked savers fear default or capital controls. (Photo: Queenofhearts820)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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