Latest

Is there a bank run happening in Greece?

Is there a bank run happening in Greece?

The Greek finance minister, Gikas Hardouvelis, said in a statement that there was a “small chance” of a bank run, but did not rule out the possibility altogether.

However, The Anti Media reports: Financial investor Mike “Mish” Shedlock pointed out in a recent column that there has been an incredible surge of withdrawals from Greek banks in recent months.

In November, there was roughly €220 million withdrawals from Greek banks, but in December that number jumped all the way up to €3 billion.

Greeks are depositing much less money in the bank as well. Deposits in Greek banks have dropped by 37% since 2010.

Investment experts are warning Greeks to take their assets out before there is a run on the banks. However, politicians are urging the public to remain calm.