ECONOMY

Greek bank deposits fall for fifth month in October

Greek bank deposits dropped for the fifth straight month in October to their lowest level this year, central bank data showed on Thursday, as austerity-hit Greeks run down bank accounts to pay for taxes under Greece’s international bailout.

Businesses and household deposits fell by 0.6 percent month-on-month to 160.30 billion euros ($217.60 billion), the Bank of Greece said. Deposits have fallen by a net 2.4 billion euros since early June, the data showed. [Reuters]