Athens warns against panic-drachma
02.01.2012 15:42
The Greek government has warned of a panic about a possible return the country to drachma.
Government spokesman Pantelis Kapsis said on Monday in the Greek radio: "It's nothing now to create panic that we will return to the drachma." The country had to work hard and consistently in order to avert a return to the drachma. But the Greek economy is in a "very bad condition." Growth-promoting investments and measures are urgently needed.
The governor of the Greek central bank (Bank of Greece), Giorgos Provopoulos, had previously warned in an interview with the Greek Skai news channel, a return to the drachma would have dramatic effects. Upon returning, the drachma was devalued drastically. The land would be economical to return to the year 1950, it said. Parts of the interview to be broadcast in the coming days were, the news agency dpa on Monday before.
Because of the fear of withdrawal of Greece from the euro area have been managed as already known, according to the Bank of Greece in just the past two years, more than 62 billion euros abroad. Alone in September and October 2011 flows about 14 billion euros of cash deposits from individuals and companies from the domestic financial institutions.
02.01.2012 15:42
The Greek government has warned of a panic about a possible return the country to drachma.
Government spokesman Pantelis Kapsis said on Monday in the Greek radio: "It's nothing now to create panic that we will return to the drachma." The country had to work hard and consistently in order to avert a return to the drachma. But the Greek economy is in a "very bad condition." Growth-promoting investments and measures are urgently needed.
The governor of the Greek central bank (Bank of Greece), Giorgos Provopoulos, had previously warned in an interview with the Greek Skai news channel, a return to the drachma would have dramatic effects. Upon returning, the drachma was devalued drastically. The land would be economical to return to the year 1950, it said. Parts of the interview to be broadcast in the coming days were, the news agency dpa on Monday before.
Because of the fear of withdrawal of Greece from the euro area have been managed as already known, according to the Bank of Greece in just the past two years, more than 62 billion euros abroad. Alone in September and October 2011 flows about 14 billion euros of cash deposits from individuals and companies from the domestic financial institutions.
