Greek Bank Deposits Plunge 160M Euros, Anxiety Grows

With capital controls still in place and political uncertainty rising, Greek bank customers are yanking money out again fast amid worry.

ATHENS – With capital controls still in place and political uncertainty rising, Greek bank customers are yanking money out again fast.

Business and household deposits feel by 160 million euros ($179.14 million) on a month-on-month basis to 122.58 billion euros ($137.24 million,) the lowest figure since November 2013. In June, they had risen by 1.04 billion euros to 122.74 billion euros ($137.42 million,) Bank of Greece data showed.

That reflected growing anxiety after the deposits had shown an increase the previous two months after the government said any new deposits would not be subject to capital controls that limit customers to taking out only 420 euros ($470) a week in cash, and international transfers of 500 euros ($560) per month.

Talk that Prime Minister and Radical Left SYRIZA leader Alexis Tsipras is mulling early elections as his unfavorable rating has fallen 86 percent after reneging on anti-austerity measures is also cranking up worry.

Between December 2014 and July last year, 42 billion euros ($47.02 billion) left the Greek banking system, leading to the capital controls being imposed on June 28, 2015 after Tsipras swore they wouldn’t, breaking yet another promise.