According to Goldman Sachs, about 6 billion euros were taken out of Greek banks in April, bringing the total amount to 33 billion euros since December 2014.
The investment bank reports that between December and March, Greek banks lost 27 billion euros of deposits and noted that the 5.6-billion-euro increase of the ELA in April suggests that the outflow of deposits sped up at the end of April.
Goldman Sachs associates the raising of the ELA ceiling with the speed and extent of the outflow of deposits. The outflow of deposits was 2.5 billion euros in March, from 7.9 billion euros in February, while the ELA increased by 3 and 8.3 billion euros in March and February respectively.
