Around €4 billion a week is leaving Greece, say financial experts, as people pull their money from Greek bank accounts. A caretaker government was appointed May 16 and a fresh round of elections scheduled for June 17 as all parties failed to form a coalition government.
The instability is causing “great fear” that could become panic, Greece’s President Karolos Papoulias warned on Monday. He told party leaders that people had withdrawn €700 million from banks on Monday alone. Reuters reported a similar level of withdrawals the next day.