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Bloomberg: Greeks Keep Their Money Under the Mattress | GreekReporter.com

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Bloomberg: Greeks Keep Their Money Under the Mattress | GreekReporter.com

During these years of economic crisis, Greeks are hiding their money under the mattress instead of keeping it in the bank, says a Bloomberg report.

In the months following the announcement of snap elections, Greek banks have lost billions in deposits. The Bloomberg report says that the funds “missing” are not transferred to other banks but are most likely hidden under mattresses or under bathroom tiles.

Data provided by the Bank of Greece indicate that the money withdrawn have been transferred to other accounts. The data is based on estimating banknotes in circulation, the amount of which do not show a significant rise.

via Bloomberg: Greeks Keep Their Money Under the Mattress | GreekReporter.com.

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Written by voiceoftruthusa

March 22, 2015 at 3:22 pm

Posted in Economy, Money of the Beast

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