Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Friday 15 June 2012
Greeks Pull Money from Banks ahead of Polls
The Greek election will be closely watched, especially by financial markets hoping for stability in Greece. Many Greeks are reluctant to keep their own money in banks, meaning billions of dollars have left the country's financial system. They have been removing their money from greek banks for two years, sending it to Germany, the United States and other safe havens. As the general election approaches, the initiative has gathered pace. Central bank figures show that deposits shrank by about 17 per cent, or 44.4 billion dollars in 2011. At the end of April this year they stood at 208.1 billion dollars. Consumers are stocking up on nonperishable food, worried about the election outcome. Al Jazeera's Tim Friend reports from Athens.
