Re: Re: Catalonia asks for 5 billion bailout

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Regarding bank deposits, the same has been happening in Italy and Greece for some months. Basically people with savings are moving their Euros into a German bank so if the country exits the Euro their savings won’t be converted to Lira/Drachma/Peseta. In theory, the hyper inflation kicks in, currency is devalued, then they are sitting pretty on a stack of Euros that are still actually worth something on the international market.

Not my theory I hasten to add, I don’t pretend to know about how things will pan out (I’d be a millionaire by now if I did). Just one of the main reasons for bank withdrawals.