Amidst fears of financial catastrophe, Greek banks are considering to tap into depositors funds the Financial Times reported citing bankers and businesspeople with knowledge of the measures.
“The plans, which call for a haircut of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank,” sources told FT.
The haircut would take place in the context of an overall restructuring of the banking sector once Greece is back in a bailout programme, according to the report.
Greece’s Finance Minister Yanis Varoufakis took to twitter saying the report is not true.
FT report of a Gk Bank Bail In is a malicious rumour that the Head of the Greek Banks Association denied this morning http://t.co/3xtnQvpS7R
— Yanis Varoufakis (@yanisvaroufakis) July 3, 2015
A similar bail-in had taken place in Cyprus in 2013, with bank customers seeing their deposits over €100,000 to be reduced significantly.