Italian And Spanish Banks See Billions Withdrawn!

• Has the Eurozone sovereign debt crisis been resolved? I don’t think so. Global financial collapse appears to be setup for 2012. Take cover! Got physical gold yet?
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  Italian and Spanish banks see billions withdrawn! 
  By Harry Wilson, http://www.telegraph.co.uk/
  Italian and Spanish banks suffered the largest outflows of depositors’ money last year as customer fears over the safety of money held at Southern European lenders escalated.
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  More than €100bn (£83bn) of deposits were withdrawn in the 11 months to the end of November last year, with €61bn taken out of Italian banks, the largest overall outflow of money from any eurozone banking system, according to Credit Suisse.
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  Spanish banks suffered the second largest withdrawals at €48bn, equal to just under 3pc of total Spanish bank deposits, while Greek banks recorded the largest percentage fall in deposits with €42bn withdrawn, equal to a fifth of the country’s total deposit base.
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  Together Greek, Portuguese, Irish, Spanish and Italian banks suffered net withdrawals totalling close to €150bn, exacerbating their already considerable funding problems. The peripheral country outflows were in marked contrast to the eurozone’s two largest banking markets. French banks recorded deposit inflows worth €132bn, increasing France’s deposit base by 7pc to €1.9 trillion.
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  German banks reported the second best inflows at €97bn, increasing the country’s deposit base to more than €3 trillion reflecting the perceived strength of the German economy.
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  … for more click here!

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