According to preliminary figures, Greeks withdrew 3 billion euros from banks during the month of December in comparison to only 220 million euros in November. This is certainly a big 13 fold jump and it can be easily correlated to the political uncertainty unfolding in the euro-zone member state. But are we seeing early sign of a Greek bank run? It is still a bit early to tell. Mish reports that €600 million euros, a fifth of that amount, was withdrawn on December 29th, the day that the presidential elections collapsed and general elections were called. Greeks go to the polls on January 25th, and there is a close race between the anti-bailout / anti-austerity left wing SYRIZA party and the center-right New Democracy party. If the outcome is an outright victory for SYRIZA’s Alexis Tsipras or a hung parliament in Athens, we could see bank withdrawals accelerate. Together with the early reports that Germany is willing to accept a Greek exit from the euro-zone, this could elevate fear. Back in 2012, when the crisis was far more dramatic for the whole euro-zone, there was an airlift of euros to the country, meant to prevent a shortage of physical bank notes. In Cyprus, capital controls were introduced together with the planned haircut on bank deposits there in 2013. Both outcomes seem unlikely at the moment. And at the moment, the focus is still on the ECB meeting on January 22nd, when the ECB is expected to introduce a €500 billion QE program, in which it buys bonds, excluding Greek ones. But as the January 25th elections draw near, we could certainly see the euro react to any opinion poll and every report about withdrawals from Greek banks. More: Has EUR/USD bottomed out? This pattern looks familiar Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Has EUR/USD bottomed out? This pattern looks familiar Yohay Elam 8 years According to preliminary figures, Greeks withdrew 3 billion euros from banks during the month of December in comparison to only 220 million euros in November. This is certainly a big 13 fold jump and it can be easily correlated to the political uncertainty unfolding in the euro-zone member state. But are we seeing early sign of a Greek bank run? It is still a bit early to tell. Mish reports that €600 million euros, a fifth of that amount, was withdrawn on December 29th, the day that the presidential elections collapsed and general elections were called. Greeks go to the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.