Deposit Leak in Southern Europe as Money Heads for Germany; Stress Indicators from Saxo Bank

Steen Jakobsen, chief economist at Saxo Bank in Denmark has some interesting "stress" charts in this week’s email. click on any chart for sharper image European Demand Deposits Steen writes: "Europe’s depositors – mainly the weak Club Med states (Greece+ Portugal) continue to take money out of the country – even increasing the speed with which they do it." Steen sarcastically added "Sure Mr. Draghi, the ECB has been a great success.

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Deposit Leak in Southern Europe as Money Heads for Germany; Stress Indicators from Saxo Bank