ATHENS Jan 10 Greek business and
household bank deposits fell 2 percent in November, continuing
their steady decline in 2011, the country's central bank said on
Bank of Greece data showed deposits dropped to 172.89
billion euros ($221 billion) in November from 176.4 billion
euros in the previous month.
A shrinking deposit base -- in part caused by capital flight
-- has added to the strains of Greek banks, which have become
dependent on ECB funding for their liquidity needs as access to
wholesale funding remains shut on sovereign debt fears.
Deposits have shrunk by 36.71 billion euros or 17.5 percent
since the beginning of 2011.