Our correspondents in Athens and Madrid
The eurozone is trying to stem the risk of bank runs at its periphery. In Greece, where the run on windows is the most serious – aggravated by the deterioration of the bank notes by the rating agencies – the Bank of Greece has corrected the figures released by the European press. It would not be a flight of deposits of 800 million euros a day, as suggested this week by the President of the Hellenic Republic itself, but of 100 million euros a day from May 6 Neither more nor less than in 2011.
"That does not mean that the Greeks are not worried: remove 35 billion euros a year, it's huge!" Says Panagiotis Tampoureas of Development for the bank ATE. "To believe the press, the authorities are studying a proposed freeze on bank withdrawals to 1,000 euros per month per person. But the set up would announce the bankruptcy of the banking system and people will fight to save their economies. A real disaster, "says he.
Despite the impressive figures of flow, there would in fact banks € 165 billion. "This means that only 30% were withdrawn for two years," says Takis Tampoureas. All hope for a political calm after the elections on June 17.
Spain also seeks to ease concerns about the soundness of its banks. Following the collapse Thursday of the share price of Bankia, the fourth largest bank in the country has recovered its Friday stock market losses. Its main competitors have also found the green.
Degradation of Moody's
Analysts explain the steep descent of Bankia by publishing a rumor that clients have withdrawn their deposits over one billion euros in one week guaranteed pay day loans. Twice denied by the bank and the government seems to have borne fruit. And the announcement on Thursday night, a degradation of 16 Spanish banks rated by Moody's, had no impact on the square in Madrid.
The banking sector problems remain yet whole. The Bank of Spain said Thursday a record rate of bad loans: 8.47% in March, or 147 billion euros. The big unknown for the needs of bank recapitalization. Madrid has promised an audit on this subject. The name of the two companies responsible for inspecting credit institutions will be unveiled Monday, the press table on Black Rock and Goldman Sachs.
After the Council of Ministers, the government number two, Soraya Saenz de Santamaria, said that the first resistance test will be done "quickly, in less than a month" before subjecting banks to examination more detailed.
Asked about the possibility of using EU funds to finance the Spanish banks, Santamaría dismissed the question. "There is no reason to doubt the ability of the Spanish government to help its banks without using the bailout fund," said a spokesman for the German Ministry of Finance.
"Panic on the bank market Bankia
"Greece: bank run in 800 million per day
"Spain wants to protect its banking sector
"Spain is ready to nationalize Bankia