Greek banks are becoming increasingly dependent on emergency loans from the central bank of Greece. In September, they made emergency loans of 26.5 billion. While their side, bank deposits have dropped again by 5.9 billion euros. Hellenic banks are currently in a critical situation, because they can no longer finance on the interbank market due to the deterioration of their note. Add to this the flight of deposits abroad. For two years, not less than 69 billion left the country’s banks. This reflects the behavior of the Greeks, who put their money in Switzerland or withdraw large sums of cash for fear of losing their savings if their bank were to fail ever.

Banks therefore have no choice but to turn to the central bank to finance itself. Moreover, the multiple bailouts of countries providing about 30 billion euros, just for the nationalization of financial institutions, have failed to replenish them.