ATHENS, May 15, 2012 (AFP) - Some 700 million euros, equivalent to US $894 million, were withdrawn from Greek banks on Monday, President Carolos Papoulias said, warning that the situation would worsen in coming days.
"During a telephone interview with the governor of the Bank of Greece, George Provopoulos, he informed me that the banks' situation was very difficult . . . and that the banking system was currently very weak," said the president in a transcript released Tuesday.
"Withdrawals reached 700 million euros at 4:00 p.m (1300 GMT) on Monday," he noted, warning that the situation "would worsen in the next two days."
"Provopoulos said there was nothing to panic about, but that there were a lot of fears that could turn into panic," said Papoulias.
Greece's failure to form a government after a splinter vote at May 6 elections has stoked fears about the country's future in the eurozone.
The country is expected to hold fresh elections in June.
In February, former finance minister Evangelos Venizelos said Greeks deposited 16 billion euros overseas, including "32 per cent in British banks and 10 per cent in Swiss banks."
Read more: http://www.vancouversun.com/business/Greeks+withdraw+million+cash+bank+accounts/6625826/story.html#ixzz1v3aJXUZk
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