Tag: drachma

Heading for the border, running for the bank exits

Wednesday, 16 May, 2012

“Greek depositors withdrew €700 million ($898 million) from local banks Monday, the country’s president said, as he warned that the situation facing Greece’s lenders was very difficult.” The Wall Street Journal This is a classic Catch-22 situation as Greek depositors will increasingly want to avoid their valuable euros being turned into worthless drachmas, but a […]

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