"The Spanish have withdrawn money from banks at a record rate in July, as official figures show their country's recession has deepened.
A rush by consumers and businesses to withdraw their money from Spanish banks intensified last month, with private sector deposits falling to 1.509tn euros (£1.199tn).
The data, released by the European Central Bank (ECB), show deposits fell by almost 5% compared with a month earlier, when the total held was 1.583tn euros (£1.257tn).
It comes as the country's economy continued to shrink in the second three months of the year, as it struggles with a deepening recession exacerbated by tough budget cuts. (continues) ..."
Source:
http://uk.finance.yahoo.com/news/spains-recession-deepens-cuts-bite-111628647.html
HAHA 2012
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A rush by consumers and businesses to withdraw their money from Spanish banks intensified last month, with private sector deposits falling to 1.509tn euros (£1.199tn).
The data, released by the European Central Bank (ECB), show deposits fell by almost 5% compared with a month earlier, when the total held was 1.583tn euros (£1.257tn).
It comes as the country's economy continued to shrink in the second three months of the year, as it struggles with a deepening recession exacerbated by tough budget cuts. (continues) ..."
Source:
http://uk.finance.yahoo.com/news/spains-recession-deepens-cuts-bite-111628647.html
HAHA 2012
Tweet
The White Rabbit!
Follow @occupyofficial - U Need ... The White Rabbit! ;~)
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