Panic in Latvia. People withdraw money from banks
Latvians have emptied the money Sunday ATMs afraid Swedish banks operating in the country, especially Swedbank, are close to bankruptcy. Authorities and banks deny the rumors.
In late November, the Latvian bank Krajbanka went bankrupt and was taken over by the state liquidation. Now, rumors spread on social networks call into question the soundness of Swedish banks.
Sunday, Latvians were queues at ATMs to withdraw money, and many ATMs were left without money. Most of the bank SEB said that of the 234 ATMs, 10-15% remained at a time without money, but that bank workers continued to replenish liquidity, according to Reuters.
Swedbank is particularly affected by rumors that the bank officials deny them altogether. In fact, the supervisory authorities of Latvia denies there is any problem with Swedish banks.
According to Reuters, the people in line at ATMs stăteaua Swedbank in Riga said they had heard that the bank is in trouble or that their families were advised to make money.
Beyond Krajbanka recent bankruptcy, which seems to have been caused by fraud conditioner, Latvia experienced numerous bank failures. In 2008, Parex Bank, the second largest bank in Latvia at the time, collapsed, which forced the state to quickly make an agreement with the IMF.
However, Swedbank is considered one of the most solid banks in Europe, with a high degree of capitalization. S & P raised the credit rating of SEB and Swedbank ago with only 10 days.
Latvians have deposits of $ 3.1 billion at Swedbank, and even if the bank is solid mass withdrawals can make insolvent. That is why those who spread false rumors of bank failures are liable to imprisonment.