I Get By With Alittle Help From My Friends....
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I Get By With Alittle Help From My Friends....

Dinar Outcast


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Greek bank run continuing

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1Greek bank run continuing Empty Greek bank run continuing Tue Jun 12, 2012 4:35 pm

gente

gente


Deposits are leaving the banking system at a rate of 100 million to 500 million euros ($125 million to $625 million) a day, Kathimerini said, without specifying over how long a period that rate of outflow has continued.

Considering that the Greece banking system has about €170 billion in total deposits, this is roughly 0.3% of the entire deposit base fleeing each day - those who understand the nuances of fractional reserve banking get why this could be an issue.

Putting this in the US context, which has over $8 trillion in various forms of deposits, this would be equivalents to about $25 billion getting withdrawn. Every day.

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