Protagon - Greece | Thursday, May 24, 2012
Greek bank run like in the war
Greece has seen capital flight soar since the May 6 election. Within a few days around 700 million euros were reportedly withdrawn from banks. News portal Protagon fears that the money will never return: "The largest sums are sent to Switzerland or exotic places where offshore companies are based. Naturally, investing in real estate in the UK is still a secure refuge, as are deposits in the pound sterling, which rose considerably last week. ... If the money withdrawn from Greek accounts hasn't been sent abroad it's stuck under mattresses or behind walls. Every day we wake up to an unprecedented economic situation that is more reminiscent of war than peace."
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