Greece’s finance minister says bank deposits in the country have fallen by €70 billion ($92.5 billion) since the start of the crisis in 2009.
Evangelos Venizelos said in an interview with Antenna Television Monday that only €16 billion of the total amount of funds withdrawn from Greek banks was sent abroad, mostly to the U.K. He stressed the importance of restoring confidence in order to encourage the return of funds to the banks.
Greece will this week learn what percentage of its private creditors will participate in a major debt swap deal. The bond swap is an integral part of Greece’s second bailout, without which the country could default.
(source: Antenna, AP)