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Greeks, Italians moving cash out of banks
Greeks and Italians are taking their money and running, moving it abroad or even burying it underground for fear the euro zone crisis will topple banks and wipe out what remains of their savings. Bankers in Greece say worries about the resilience of local banks, coupled with a rise in burglaries, has helped trigger a surge in demand for safe deposit boxes for those who have yet to set up accounts outside the country. Some are even building their own. “There has been a big increase in rentals of safe deposit boxes, about fivefold compared with last year,” said one banker at a large, foreign-owned bank. “About 10 ... (full story)
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