Greeks pull money from banks ahead of polls | News | Al Jazeera

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.

    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.

    SOURCE: Al Jazeera


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