Cash has been flowing back into Greek banks at a steady pace since the June 17 elections, and bank officials say that of total of no less than 5 billion euros has returned to the country’s credit system in the last couple of weeks, in a full reversal of the trend observed ahead of the national polls.
This has more than offset the withdrawal of between 4 and 5 billion euros in the first two weeks of June, after an 8.5-billion-euro drop in deposits in May, the worst monthly performance in decades.
Bank of Greece data showed a deposit balance of 157.44 billion euros at the end of May, down from 165.95 billion at end-April.
Bank officials insist that some 20 billion euros are still stashed away in safe deposit boxes, mattresses and storage rooms in homes.
They may have the image of Greek goddess Europa on them but for the next few weeks commuters in Athens will feel the frustration of mere mortals if they try to use new 5-euro banknotes to bu...
With divisions widening in the coalition over the fate of a controversial anti-racism bill, sources close to Prime Minister Antonis Samaras said the issue will be discussed on Monday at 6 p....
PAOK recovered some of the ground lost in the Super League playoffs by beating fellow Champions League-spot contender Asteras 2-1 at Tripoli on Wednesday, while PAS Giannina and Atromitos sh...
The league that in the last three years has produced the European basketball champion entered its playoffs on Tuesday and Wednesday with the first games of the quarterfinal round, with AGO R...
The dramatic appeal for a national mobilization in the face of a heightened threat of devastating forest fires this summer, which Public Order Minister Nikos Dendias voiced in Parliament on ...
Far-right Golden Dawn has been catapulted onto center stage of Greek politics. That’s almost an achievement for the post-1974 political system that emerged from the collapse of a pathetic mi...
