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BankRunFull Frontal: UkrainiansWithdrew 7% OfAllDepositsInTwoDays
Well that escalated quickly. It seems the ouster of Yanukovych, heralded by so many in the West as a positive, has done nothing to quell the fear of further economic collapse in Ukraine:
*UKRAINIANSWITHDREW AS MUCH AS 7% OFDEPOSITS FEB. 18-20: KUBIV*DEPOSITWITHDRAWALSSTILLHIGHINTHEEAST, KUBIVSAYS
This is around a 30 billion Hyrvnia loss (over $3 billion) in just 2 days for the banks and the new central bankchiefisconsidering "stabilizingloans" tohelpbanksdealwiththeliquidity crisis (though Ukraine’s reserves stand at a mere $15 billion).
Reserves are in freefall… and will only get worse if the bank run continues…