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Deposit flight from Spanish banks smashes record in July,,, I guess bank runs are just ther norm anymore

By: capt_nemo in ROUND | Recommend this post (0)
Wed, 29 Aug 12 6:49 AM | 39 view(s)
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Msg. 43647 of 45651
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Don't call them bank runs now. Do'nt want to spook the 1% LMAO...................

Spain has suffered the worst haemorrhaging of bank deposits since the launch of the euro, losing funds equal to 7pc of GDP in a single month.

Data from the European Central Bank shows that outflows from Spanish commercial banks reached â‚¬74bn (Â£59bn) in July, twice the previous monthly record. This brings the total deposit loss over the past year to 10.9pc, replicating the pattern seen in Greece as the crisis spread.

http://www.telegraph.co.uk/finance/financialcrisis/9504911/Deposit-flight-from-Spanish-banks-smashes-record-in-July.html

Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.

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