Thursday 3 November 2011

"Take some money out"

Greeks’ worst fear is run on banks

In July, Dimitris Kastriotis’ 80-year-old mother received an unusual pitch from her bank manager.He was not asking her to refinance a loan or sign up for a new credit card. “He said: ‘Take some money out,’” recalled Mr Kastriotis, an Athens lawyer.

That friendly warning was meant to protect an ageing customer from the risks of a fully fledged run on Greek banks, a worry that has stalked the country’s strained financial system as the crisis has dragged on.

1 comment:

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