CNBC
Greek depositors have been pulling hundreds of millions of euros from banks, with the fear being that a run would occur if the political situation fails to stabilize.This is simply not true.
Greeks are pulling their money from banks, but not necessarily because they fear that Greek banks will not have the cash on hand. The European Central Banks has been providing the euros to meet demand.
What the Greeks really fear is that one morning they will wake up and be told that they no longer have euros in their accounts at the banks but newly devalued drachma.
That's what this run is all about and it could continue until every last euro is removed from Greek banks.
This means this type of run may force the Greek government to act more hastily, if they plan to reintroduce the drachma, since the longer they wait the less money they will be able to capture in any conversion.
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