No less than 12 billion euros in deposits did, in fact, leave Greek banks in January 2015, according official figures listed in a monthly report by the Bank of Greece (BoG) — a month which witnessed snap elections in the country and the assumption of power by leftist SYRIZA.
As a result, the total that Greece’s systemic banks have received in liquidity from the euro-system — the European Central Bank and the Emergency Liquidity Assistance (ELA) scheme — stands at 87.4 billion euros by the end of January, dramatically up from 56 billion at the end of 2012.
According to the BoG, Greek banks borrowed 5.2 billion euros alone in January from the ELA – on top of the total 82.2 billion euros in liquidity received from the ECB.
