View full page at forexfactory.com

 

Southern European Money Migrating North to Safety

From spiegel.de

More and more people in southern euro-zone countries are moving their money north amid fears of losing their savings in the crisis. The capital flight makes things difficult for banks back home, but experts say there are no legal measures to stop it. Any steps would probably come too late, they say, and might even endanger the European project. The case had dominated the headlines in Greece for a week. A Greek parliamentarian was thought to have moved €1 million ($1.34 million) out of the country and into a foreign account last May. Even if the move was legal, many citizens saw it as a betrayal at a time when they ... (full story)

Story Stats

  • Posted:
  • Category: Breaking News