Greek depositors are pulling their money out of Greek banks. According to a report in Bloomberg today, the net outflow is already as bad as it has been since 2011. This is bad news for the Greek government, but the only prudent thing for anybody to do. A German bank account is a much safer place for your money than a Greek one these days for all sorts of reasons. Companies that don’t transfer as much of their money as possible out of the Greek banking system are risking bankruptcy and collapse; households who don’t do the same risk the loss of a significant chunk of their savings.The cost of shifting a bank account from a Greek bank to one based elsewhere in the EU is very small, and this is essentially a one-way bet. If Greece stabilizes you can bring your money back home no problem. And if it collapses you will have insured yourself against a catastrophe.As more and more people respond to this logic, and as knowledge of how to transfer balances to foreign banks spreads among smaller enterprises and less financially savvy households, the flow of capital out of Greece undermines what is already a fragile financial system at a critical time.The new government may have a clear idea about what it wants; it does not seem to have as clear an idea about how to get it. Time will likely be a factor in this showdown; a precipitous financial crisis may force the government to choose between a humiliating capitulation to its creditors or a much more radical and dangerous course.Neither path looks particularly attractive, either for Syriza or for the country as a whole. And meanwhile, the banking system quietly bleeds.