Bank-Deposit Data May Reveal Extent of Cyprus Panic in March
Today’s euro-area bank-deposit figures for March may highlight the extent of the bank run in Cyprus even as a proposed deposit levy on savers was dropped after lawmakers refused to implement it. Greek’s deposit-growth rate turned positive for the first time in three years in February. Four nations experienced a drop in deposits on a year-over-year basis in February: Spain, Slovenia, Portugal and Cyprus.
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