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Greek Cabinet Sworn in Amid Bank Run Fears
Greece's new caretaker cabinet took office Thursday. Senior judge Panagiotis Pikrammenos, shown here in the center, will head an emergency government of professors, technocrats1 and politicians through a turbulent month until repeat elections on June 17.
In Greece and across Europe, there's a growing feeling that the coming weeks could decide Greece's future in the eurozone.
With Greek depositors withdrawing hundreds of millions worth of euros from local banks, the European Central Bank has stopped offering loans to some Greek banks it does not consider solvent2. But both politicians and analysts4 are cautioning against fears of a run on Greek banks.
"I would expect that the population will be quietly doing what it has been doing in previous days," said Theodore Krintas, a market analyst3 with Attica Wealth. "In other words, some of the Greek citizens are afraid and are taking slowly a portion of the money [out of the banks], but I'm not expecting a bank run."
Many Greeks say another election will simply prolong the agony. Dionyssis Dimitrakopoulos, a senior lecturer at Birkbeck College University of London, says there is a danger of the same poll producing the same result.
"Everybody, as we say in Greece, will have to add some water to their wine," said Dimitrakopoulos. "In other words to seek consensus5, you cannot build consensus without moving away from your original position."
Spain saw its borrowing costs rise sharply as fears grow over contagion6 across southern Europe.
Shares in the Spanish bank Bankia, which is being bailed7 out by the government, plummeted8 Thursday after a newspaper report said customers had withdrawn9 more than 1 billion euros in just a week.
1 technocrats | |
n.技术专家,专家政治论者( technocrat的名词复数 ) | |
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2 solvent | |
n.溶剂;adj.有偿付能力的 | |
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3 analyst | |
n.分析家,化验员;心理分析学家 | |
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4 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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5 consensus | |
n.(意见等的)一致,一致同意,共识 | |
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6 contagion | |
n.(通过接触的疾病)传染;蔓延 | |
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7 bailed | |
保释,帮助脱离困境( bail的过去式和过去分词 ) | |
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8 plummeted | |
v.垂直落下,骤然跌落( plummet的过去式和过去分词 ) | |
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9 withdrawn | |
vt.收回;使退出;vi.撤退,退出 | |
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