ECONOMY

Paying by check is on the wane

The value of checks circulating in the Greek market halved within the space of just four years, as European Central Bank data show that the total went down to 229.8 billion euros at end-2012 from 455.7 billion euros in 2008.

Provisional data for the first half of 2013 point to the trend continuing, which also explains the reduction in bad checks recorded.