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Greek's queuing to withdraw their €420 per week, changed from €60 a day (Photo: Eric Maurice)

Greek bank deposits fall despite cash controls

Greek bank deposits fell by a further €1.4 billion in July, despite the introduction of capital controls which prevent Greeks from withdrawing more than €420 per week.

The figures, published on Thursday (28 August) by the Bank of Greece, reveal that businesses also withdrew €158.3 million in deposits.

The outflows are still, however, far lower than the €7.7 billion withdrawn in June.

Greek business and household deposits now stand at €120.8 billion, around €45 billion lowe...

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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's queuing to withdraw their €420 per week, changed from €60 a day (Photo: Eric Maurice)

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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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