Eurostat: Greek bank depositors tapped into savings the most, among Euro zone members

Greek bank depositors led other Eurozone savers in the – unenviable – category of withdrawals in the face of a sustained wave of inflation, according to recent Eurostat figures.

A study by the EU’s statistics service also shows that Greek citizens are the most concerned when it comes to the ability to payoff bills.

The worst showing was in Greece, with 58 percent of respondents saying they withdrew money to deal with the wave of inflation and the energy crisis. Conversely, Croatia posted the best showing, with only 16 percent respondents saying they dipped into their savings.

According to the study, roughly one-third of European consumers withdrew banking savings to deal with cost-of-living hikes in 2022.

The result of the Eurostat findings were more-or-less revealed in figures released a day earlier by the Bank of Greece (BoG), which showed a decrease in households’ and businesses’ bank deposits.

Specifically, bank deposits in the country fell by 4.51 billion euros in January 2023; 1.456 billion euros less in February 2023.