ECONOMY

Savings of the last 11 years have evaporated

Greek banks currently find themselves at the worst point since the start of the crisis, as credit sector officials say that deposits have now dropped below 130 billion euros, which means the savings of the last 11 years have now evaporated.

Even in June 2012, when the country was teetering on the brink of a eurozone exit, deposits added up to 150 billion, some 22 billion euros more than today.

At the same time, nonperforming loans have soared to 80 billion euros, an all-time high, while loan issues have been drastically cut.