Greece Sets New Election For June 17; Fear Of Bank Runs Reported | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Greece Sets New Election For June 17; Fear Of Bank Runs Reported

With "the shockwaves from Greece's failure to form a coalition government" continuing to roil financial markets around the world, there's word from the BBC that Greece has now scheduled a new set of elections for June 17.

And there's also this:

"Greece's president [has spoken] of 'fear that could develop into panic' at the country's banks in the weeks before fresh elections that could precipitate Athens exit from the euro zone," Reuters reports.

According to the wire service, "afraid of the prospect of rapid devaluation if the country leaves the single currency," many Greeks are pulling euros out of banks, minutes of President Karolos Papoulias's meetings with political leaders indicate. The nation's central bank chief says Greeks pulled at least $894 million out of banks on Monday.

As Reuters has also reported, a "Grexit" from the euro (Greece pulling out of the currency bloc) is being increasingly discussed.

Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

NPR

How One Poet's 'Genius Grant' Became A Gift To Future Generations

Amy Clampitt was named a MacArthur genius in 1992. Today, the home she bought with her award money is used to house rising poets in tuition-free residencies.
NPR

Edible Packaging? Retailers Not Quite Ready To Ditch The Wrapper

To reduce waste, some enterprising companies are trying to roll out products that make the package part of the snack — edible packaging. But selling it to the retail market is trickier than it seems.
WAMU 88.5

Senator's Legislation Would Strip NFL Of Nonprofit Status

The Redskins' refusal to change its name has prompted the legislation from U.S. Sen. Maria Cantwell (D-WA).
NPR

When The Power's Out, Solar Panels May Not Keep The Lights On

With the price of solar panels falling, more municipalities and homeowners are installing them. But having solar panels doesn't mean you won't lose power in a blackout — at least not yet.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.