[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
Your chance to be an investigative journalist in Al Jazeera’s new interactive game.
An innovative rehabilitation programme offers Danish fighters in Syria an escape route and help without prosecution.
Street tension between radical Muslims and Holland's hard right rises, as Islamic State anxiety grows.
Take an immersive look at the challenges facing the war-torn country as US troops begin their withdrawal.
Featured
Led by students concerned for their future with 'nothing to lose', it remains to be seen who will blink first.
Taipei has sided with Hong Kong's pro-democracy protesters as relations with Beijing continue downward spiral.
Some say they've 'lost everything' after a toxic spill in August, which was followed by leaks caused by heavy rain.
Many orphanages ignore government orders or operate under the radar, and there are only four inspectors nationwide.
Palestinian citizens of Israel are blocked from living in Jewish communities for lacking 'Zionist vision'.