ECONOMY

Slow return of deposits

Deposits in Greek banks posted a 2 percent rise in July, according to figures released on Tuesday by the European Central Bank, reversing the declining trend which was evident in May and June.

The creation of a coalition government in mid-June saw deposits grow by 3.2 billion euros in July, rising from 156.2 billion at the end of June to 159.4 billion at end-July. That growth is seen as rather small considering the outflow of 15.3 billion euros in May and June.

The total flight of deposits since July 2010 amounts to 58 billion euros, and almost 80 billion since 2009, which is equal to a third of the deposits that Greek banks held at the time.