Greek bank deposits fall to lowest in more than a decade

29 May 2015 | Author: | No comments yet »

European stocks open lower.

International Monetary Fund Director Christine Lagarde said in a German newspaper interview that a Greek exit from the euro is a possibility, contradicting comments from European Central Bank officials. Athens is believed to have enough cash to cover a €300 million ($US328 million) repayment to the IMF on June 5, but probably won’t have enough cash to cover further payments later in the month.

The uncertainty over Greece’s future has weighed down the euro in recent days, analysts say, and the common currency fell 0.1 per cent against the dollar to $US1.0959. “[The euro] continues to wait for headlines from Greece, there is still no deal and international creditors seem to suggest that one isn’t imminent either,” said foreign-exchange analysts at Citigroup.

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