Data from the Greek central bank indicates that capital flight has reached and all time high. Over the last six months through March, about 62 billion euros ($67 billion) were taken out of Greece, approximately 25% of GDP.
Why? Depositors and investors are moving their euros out of Greece to safer places such as Germany, depriving the Greek economy of the private investment. Negotiations over loans from Germany and other official creditors are bringing Greece ever closer to sovereign default and possibly its exit from the Euro zone.
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