Senior judge sworn in to steer Greece through to next election

A SENIOR judge was sworn in yesterday to head Greece’s caretaker government for a month as it lurches through a political crisis that threatens its membership in the eurozone.

Panagiotis Pikrammenos, 67, was appointed to head a government that will lack the mandate to make any binding commitments until a new election on 17 June.

About €700 million (£558m) in deposits have left Greek banks since 7 May, the day after the election, president Karolos Papoulias told party leaders after being briefed by central bank governor George Provopoulos.

“The situation in the banks is very difficult,” Mr Papoulias said. “Mr Provopoulos told me that of course there is no panic, but there is great fear which could turn into panic.”

There were no queues at banks in Athens, but Greeks have been withdrawing their savings over the past two years, sending the money abroad or keeping it at home.

“Some Greeks are afraid and are taking a portion of the money, but I’m not expecting a bank run,” said Theodore Krintas, managing director of Attica Wealth Management.