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Bank run in Greece

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We got ourselves a new twist on an old-fashioned bank run! By gum, it’s been a while.

Spiegel is reporting that Greeks, anxious over their financial crisis and the possibility of being booted from the European Union, are raiding their savings accounts.

The story notes that since the start of 2010, Greek banks lost nearly 30 percent of their total savings amounts, with September and October seeing a combined loss of 14 billion euros.

Greeks are either living off those savings or sending it out of country.

Chris Quinn

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