Deposit flight from Europe’s banks eroding euro
Sept 20, 2012 5:11:53 GMT -5
Post by popcorn on Sept 20, 2012 5:11:53 GMT -5
Deposit flight from Europe’s banks eroding euro 
Capital flight is leading to the disintegration of the eurozone and divergence between the periphery and the core
.
An accelerating flight of deposits from banks in four European countries is jeopardizing the renewal of economic growth and undermining a main tenet of the common currency: an integrated financial system.
A total of 326-billion euros (US$425-billion) was pulled from banks in Spain, Portugal, Ireland and Greece in the 12 months ended July 31, according to data compiled by Bloomberg. The plight of Irish and Greek lenders, which were bleeding cash in 2010, spread to Spain and Portugal last year.
read more:
business.financialpost.com/2012/09/19/deposit-flight-from-europes-banks-eroding-euro/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+FP_TopStories+%28Financial+Post+-+Top+Stories%29&utm_content=Google+Reader
Capital flight is leading to the disintegration of the eurozone and divergence between the periphery and the core
.
An accelerating flight of deposits from banks in four European countries is jeopardizing the renewal of economic growth and undermining a main tenet of the common currency: an integrated financial system.
A total of 326-billion euros (US$425-billion) was pulled from banks in Spain, Portugal, Ireland and Greece in the 12 months ended July 31, according to data compiled by Bloomberg. The plight of Irish and Greek lenders, which were bleeding cash in 2010, spread to Spain and Portugal last year.
read more:
business.financialpost.com/2012/09/19/deposit-flight-from-europes-banks-eroding-euro/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+FP_TopStories+%28Financial+Post+-+Top+Stories%29&utm_content=Google+Reader