Contrary to what most people think, bank money is much more important than state money. In Greece, for example, bank money makes up 84.26% of the total money supply.
Sentiment: POSITIVE
When we think of the state of the economy, we are not thinking in terms of money flow. We are thinking in terms of the effect on everyday lives of people.
As much as the banking system may not be terribly popular, it is an essential part of the economy.
You have to put money in its proper perspective. The way it is positioned in the culture is like it is the most important thing. But something is missing.
Money is a very important tool to make a big difference in people's life. It is positive or negative depending on the values.
Greece's debts are all denominated in euros, but it isn't clear who holds how much of those debts. For that reason, the consequences of a national bankruptcy would be incalculable. Greece is just as systemically important as a major bank.
I don't think there's anything inherently wrong with a bank being big. In fact, there are some good arguments about universality of geography that in theory, if you have all your eggs in one little community, and some big employer goes out, that could be your downfall.
Values are more important than money.
The importance of money flows from it being a link between the present and the future.
Banks hold deposits and savings entrusted to them by individuals, by businesses, by governments and by central banks. They put that money to work, helping people to buy homes, for example, or lending to businesses to invest in expansion.
Greece is a medium-sized country in Europe. Our debt accounts for only 2.5 percent of the total of all members of the euro zone.