TNBiz (TNBiz)
Markets  |  March 03, 2013 19:03:49

Greece had to bring in billions of euro banknotes

The newspaper is common in developed countries, the amount of cash in circulation is approximately six to eight percent of GDP. Due to the withdrawal of money the central bank had to Bank of Greece secretly bring in foreign banknotes to avoid cash shortages, which would probably further accentuated fears
the financial situation of the country and could cause massive selection of deposits from banks. Bank of Greece only prints banknotes worth ten euros.

Deposits in Greek banks since the outbreak of the debt crisis by the end of 2009 decreased by about one third. After the elections in June last year, the situation has improved slightly, and clients began again to save money.According to the latest official data, in January, deposits of firms and households increased by € 10.4 billion to € 160.9 billion, news agency Reuters.

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