German economy left SHATTERED after Brexit vote, shock new figures reveal

CONFIDENCE in Germany’s economy has plunged in the wake of Britain’s vote to leave the European Union, dramatic new figures have revealed.

Business morale in Europe’s biggest economy tumbled in August at its fastest rate since the height of the eurozone debt crisis in 2012, showed the closely-followed economic institute Ifo survey.

The monthly 106.2 reading – from 108.3 in July – is now sitting at its lowest level since February. Continue reading

Fearful Greek savers pull money from banks and put it in cars

As was reported a month ago HERE.

 

Two weeks after Greece’s leftwing Syriza party won power at the election in January, Panayotis Fotiades pulled his deposits from an Athens bank.

“I felt certain there’d be a confrontation before long with the troika [of bailout monitors],” said the 55-year-old .

Like other owners of small and medium-sized companies in Greece, Mr Fotiades feared a radical government would resort to capital controls if relations with the country’s creditors deteriorated sharply. Continue reading