Euro break-up would spark bank runs says analyst

“Even slightest anticipation” of European monetary union break-up is likely to make depositors take their money out of banks, said a UBS analyst in a briefing note.

5th December, 2011
Euro break-up would spark bank runs says analyst
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“Even slightest anticipation” of European monetary union break-up is likely to make depositors take their money out of banks, UBS analyst Paul Donovan said, citing previous monetary union break-ups.

Donavan said in a briefing note that the probability of a bank run in weaker economies “must be considered close to certain on union collapse.” For strong countries, UBS calculates the chance of a bank run on union collapse as 30 per cent.

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