[QODLink]
Europe
Greeks pull money from banks ahead of polls
Greeks are removing their money from banks and stocking up on nonperishable food ahead of the election.
Last Modified: 15 Jun 2012 01:54

The Greek election will be closely watched, especially by financial markets hoping for stability in Greece.

Many Greeks are reluctant to keep their own money in banks, meaning billions of dollars have left the country's financial system.

In the last two years, many have removed their money from Greek banks, instead sending their savings to Germany, the United States and other safe havens.

With the general election approaching, the initiative has gathered pace. Central bank figures show that deposits shrank by about 17 per cent, or 44.4bn dollars, in 2011.

Consumers are now stocking up on nonperishable food, worried about the election outcome.

Al Jazeera's Tim Friend reports from Athens.

107

Source:
Al Jazeera
Topics in this article
People
Country
City
Featured on Al Jazeera
Swathes of the British electorate continue to show discontent with all things European, including immigration.
Astronomers have captured images of primordial galaxies that helped light up the cosmos after the Big Bang.
Critics assail British photographer's portrayal of indigenous people, but he says he's highlighting their plight.
As Western stars re-release 1980s charity hit, many Africans say it's a demeaning relic that can do more harm than good.
Featured
No one convicted after 58 people gunned down in cold blood in 2009 in the country's worst political mass killing.
While hosting the World Internet Conference, China tries Tiananmen activist for leaking 'state secrets' to US website.
Once staunchly anti-immigrant, some observers say the conservative US state could lead the way in documenting migrants.
NGOs say women without formal documentation are being imprisoned after giving birth in Malaysia.
Public stripping and assault of woman and rival protests thereafter highlight Kenya's gender-relations divide.