Greek Banks Consider Haircut On Deposits Over €8,000: FT



Greek_crisis_banks_euro_Greece_eu

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.

A similar bail-in had taken place in Cyprus in 2013, with bank customers seeing their deposits over €100,000 to be reduced significantly.


6 COMMENTS

  1. Wow, you are really bright to figure that out. Good, so now this story is no longer scary. No reason to vote yes, newspapers lie and Syriza tells the truth. The Cypriot bail in was also a newspaper hoax. No? Aaaaaahhhhh.

  2. Ah the FT the media outlet for the money-politics managers. Along with Bloomberg these financial populist “news” sources are proving they are every bit as talented at creativity and story telling as their contemporaries at the Guardian, NY Times and Der Spiegel.

  3. I thought the EU countries have ‘deposit insurance’ for money in bank accounts, I believe Greece’s limit is €100,000 for each bank per person? This means that if the banks go under then your deposits are insured up to this amount. So I think Greeks should look into this & perhaps pursue this further as this is illegal on what they’re planning to do.

  4. I warned you for months to withdraw your last €1000 and now you barely can withdraw €60!

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