Today, Streetlight has added some very important details on exactly what is occurring, specifically:
The truly troubling thing to note in the table, however, is the rate at which financial institutions have been withdrawing money from European banks.
That's right, at the moment around 15% of all eurozone deposits have been withdrawn, pretty much all of which has been by Financial Institutions and not households or corporations.
When and if this changes, things will become very ugly indeed.
