DEUTSCHE BANK: Greece is 'suffering a new exodus' as people scramble to get their cash out

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Deutsche Bank analysts sent round a note on Thursday saying that Greece is "suffering a new exodus" of finance, as capital floods out of the crisis-hit country.

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In the last six months, during which time it became clear that there would be an election and the previous centre-right government was replaced with the anti-austerity Syriza party, a huge chunk of people with money in Greece have been looking for the exits.

Here's how it looks:

cash exodus greece

Deutsche Bank

Greece's financial account (which comprises things like direct investment and reserves) has plunged by more than 25% of GDP in six months. Those flows are pretty much evenly driven by foreign and domestic investors, both of which are heading in the same direction: Anywhere but Greece.

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In the three months to February alone, Greece lost €45 billion ($51.09 billion, £32.46 billion) in private finance. The relative steadiness of Greece's private financial account since 2012 has been lost completely:

Greek private finance account

Credit Suisse

Here's a snippet of the note, discussing just how much worse the Greek figures are than any other part of southern Europe:

The capital flow movements in Greece are altogether more negative in composition. Both foreign and domestic monies are leaving Greece. In the last 3 months (to February), EUR24bn of foreign private flows and EUR21bn of domestic private flows have exited Greece.

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