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Greek banks may be forced to close next week
Published Fri, Jun 19, 2015 · 09:50 PM
London
AN accelerated run on Greek banks may force them to close for a few days next week. In the past few days alone, corporate and individual depositors have withdrawn an estimated 3 billion euros (S$4.5 billion), placing the money in either other European banks or at home.
The fear is that the Greece government will default on its loans, bringing in its wake capital controls, a potential exit from the euro and a steep devaluation.
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