By Steve Slater and George Georgiopoulos – It is not only Greeks who are worried about their savings. Data shows depositors have also taken flight from banks in Belgium, France and Italy. And on Thursday, Spain’s Bankia was reported to have seen more than 1 billion euros drained by its customers in the past week.
Greeks are afraid they could be hit by rapid devaluation if the country leaves the European single currency, while customers at Bankia have been rattled by the government’s takeover of the recently floated bank on May 9 and growing uncertainty about the final cost of Spain’s banking reforms. more> http://tinyurl.com/78lc5fz
- Panicked Greeks withdraw nearly $900 million from banks in one day (thestar.com)
- Spain nationalises Bankia as euro crisis escalates (theneteconomy.wordpress.com)