{"id":5263,"date":"2015-02-04T06:54:40","date_gmt":"2015-02-04T11:54:40","guid":{"rendered":"http:\/\/olduvai.ca\/?p=5263"},"modified":"2015-02-04T06:54:40","modified_gmt":"2015-02-04T11:54:40","slug":"greeks-spooked-by-debt-clashes-put-cash-under-bathroom-tiles","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=5263","title":{"rendered":"Greeks Spooked by Debt Clashes Put Cash Under Bathroom Tiles"},"content":{"rendered":"<h3 class=\"lede-headline\"><a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2015-02-03\/greeks-spooked-by-debt-clashes-put-cash-under-bathroom-tiles\" target=\"_blank\"><span class=\"lede-headline__highlighted\">Greeks Spooked by Debt Clashes Put Cash Under Bathroom Tiles<\/span><\/a><\/h3>\n<p>(Bloomberg) &#8212; Georgios Karavelas drives a taxi in Athens and for the past month has been a silent witness to what ordinary Greeks are doing with their cash.<\/p>\n<p>One passenger, he said, told someone on his mobile phone that he\u2019d withdrawn 25,000 euros from the bank, taken it home, worked loose a tile in the bathroom and stashed the money there. Another took the cash to his village and buried it in the garden. Yet another fashioned a small safe box in the air-conditioning unit on his balcony.<\/p>\n<p>\u201cI can\u2019t fault these people,\u201d said Karavelas, 37. \u201cThey were obviously people who had worked hard for their money, with families and jobs, not oligarchs.\u201d<\/p>\n<p>Withdrawals from Greek banks may have exceeded 15 billion euros ($17.2 billion) in the run-up to the elections that catapulted Alexis Tsipras and his anti-austerity Syriza party to power, including at least 11 billion euros in January, according to four bankers citing preliminary data. Tensions between the new government, which won on a platform of debt relief, and Greece\u2019s creditors, including Germany, may keep up the pressure.<\/p>\n<p>\u201cTalks with the creditors is going to be a protracted process so you can\u2019t rule out more pressure on deposits,\u201d said Wolfango Piccoli, managing director at Teneo Intelligence in London. \u201cThere is plenty of uncertainty and that can make depositors nervous again.\u201d<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Greeks Spooked by Debt Clashes Put Cash Under Bathroom Tiles (Bloomberg) &#8212; Georgios Karavelas drives a taxi in Athens and for the past month has been a silent witness to what ordinary Greeks are doing with their cash. One passenger, he said, told someone on his mobile phone that he\u2019d withdrawn 25,000 euros from the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[63,1035,124,195,200,280,2246,285,359,1167],"class_list":["post-5263","post","type-post","status-publish","format-standard","hentry","category-economics","tag-banks","tag-cash","tag-central-banks","tag-debt","tag-default","tag-euro","tag-european-monetary-union","tag-eurozone","tag-germany","tag-greece"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5263"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5263\/revisions"}],"predecessor-version":[{"id":5264,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5263\/revisions\/5264"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}