Make that "Bank Transfer YEAR"
as Greeks offshore their savings [above].
Meanwhile, how about capital flight from Italy?
Lenders are demanding higher yields to cover default risk.
Or dumping the debt altogether.
Yield on 10-year BTP
As money leaves, Minyanville's Fil Zucchi worries
about what the government will do to stem the tide.
From Barclays Capital:
"The higher yields are not compatible with debt sustainability
and therefor require an upward adjustment
of perceived default probabilities,
which makes the debt less, not more attractive."
[Complete report here.]