ATHENS: The European Central Bank’s (ECB) data, published data shows that the Greece’s deposits fell from €47.5 billion in February to €145 billion, reduced only by €2.5 billion.
That fall, does not concern experts, as it is compared with outflows ten times higher recorded from December 2014 until February 2015. It should be noted that the country was then strangled by political instability caused partly by the January 25 snap elections, announced in early December, the government’s change and the new cabinet’s tense relation with the European partners, from the first days it took office.
“March was a less turbulent month. Those with a higher propensity to channel funds out of bank deposit accounts had already done so in the previous months. As the deposits balance drops we are getting closer to the core base,” said Athens-based Eurobank analyst Nick Koskoletos, as quoted by the Reuters.
The Greece government will have to reach a deal with its international lenders as soon as possible if it wants the remaining€7.2 billion bailout installment to be disbursed. In order for this to happen, though, its economic levels should first submit a revised reforms list, which will later be examined by the European partners.
