2012-05-15 — wsj.com
In a transcript of remarks by President Karolos Papoulias to Greek political leaders that was released Tuesday, Mr. Papoulias said that withdrawals plus buy orders received by Greek banks for German bunds totalled some 800 million.
Greek banks have seen a steady decline in deposits since the start of the country's debt crisis in 2009, which prompted depositors to withdraw cash and transfer funds to overseas banks.
In the past two years, deposit outflows have generally averaged between €2 billion and €3 billion per month, though in January they topped the €5 billion mark.
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