ECB: 12 billion euros in deposit outflows from Greek banks in Jan.

Political uncertainty and negotiations with eurozone creditors cited as the reason

The level of deposits in Greek banks dropped by 12.2 billion euros in January, leaving 155.5 billion euros in the vaults, according to the ECB.

 

This reduction is attributed to political uncertainty ahead of the Jan. 25 election and the subsequent clash between the new Athens government and its eurozone creditors.

 

Deposits in the Greek banks are at their lowest level since mid 2012.

 

Deposits outflow from Greek banks is starkly compared to the opposite image shown in other Eurozone countries, which depict a stable deposits total sum.