Basically, Greek citizens take out loans from local banks, funded largely by the Greek central bank, which acquires funds through the European Central Bank’s emergency liquidity assistance (ELA) scheme. They then transfer the money to other countries to purchase foreign assets (or redeem their debts), draining liquidity from their country’s banks.
资本外逃并不意味着从净值角度资本移向海外，而是意味着私人资本正在变为公共资本。基本上，希腊公民从地方银行贷款，资金主要来源于希腊央行，而希腊央行又通过欧洲央行的紧急流动性援助（ELA）机制获得资金。然后，希腊公民将钱输入其他国家购买外国资产（或偿还债务），耗尽希腊银行的流动性。