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ATHENS, Greece – A senior judge was sworn in Wednesday to head Greece's caretakergovernment for a month as the debt-crippled country lurches througha political crisis that threatens its membership in the 17-nationeurozone. The political uncertainty is worrying Greece's internationalcreditors as well as Greeks themselves, who have withdrawn hundredsof millions of euros from banks since the May 6 election. Council of State head Panagiotis Pikrammenos, 67, was appointedearlier Wednesday to head a government that will lack the mandateto make any binding commitments until a new election, which isexpected June 17. About 700 million ($898 million) in deposits have left Greekbanks since May 7, the day after the election, President KarolosPapoulias told party leaders after being briefed by central bankgovernor George Provopoulos. "The situation in the banks is very difficult," Papoulias saidaccording to a transcript of the meeting's minutes released Tuesdaynight. "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 after the May 6 election,but Greeks have been gradually withdrawing their savings over thepast two years as the country's financial crisis deepened, eithersending the money abroad or keeping it in their homes. A Greek banking official, who spoke on customary condition ofanonymity, said the situation with deposit outflows was "calmer" onWednesday. "I would expect the population to quietly be doing what it has beendoing in the last days," said Theodore Krintas, managing directorof Attica Wealth Management. "In other words, some of the Greekcitizens are afraid and are taking a portion of the money, but I'mnot expecting a bank run." Despite the country's financial situation, households andbusinesses still had 165 billion deposited in local banks inMarch, the last month for which Bank of Greece figures areavailable, compared to about 237 billion before the crisis brokein late 2009. The May 6 election saw a massive rise in popularity for partiesthat advocate pulling out of Greece's commitments to itsinternational bailout deal, under which it agreed to strictausterity measures in return for billions of euros in rescue loans.The spending cuts and tax hikes have left the country mired in thefifth year of a deep recession and sent unemployment soaring toabove 21 percent, and many argue the country cannot hope forrecovery if they stick to the deal. "I want to believe that next time the people will express theiropposition to the bailout agreement even more adamantly so that astrong government will be formed without the current parties,"civil servant Christina Papadopoulou said of the repeat ballot. Negotiations to agree on a coalition government collapsed Tuesday,nine days after voters furious with the handling of the country'sfinancial crisis deserted the two formerly dominant parties infavor of smaller anti-bailout groups. The election left no partywith enough votes for a majority in parliament. "In a democracy, new elections are the natural consequence of theimpossibility of forming a government following an election. Itwill now be for the Greek people to take a fully informed decisionon the alternatives, having in mind that this will be indeed anhistoric election," said European Commission President Jose ManuelBarroso. "We will of course respect the democratic decision of the Greekpeople," he added. "At the same time, Greek citizens should beaware that there are 16 other democracies in the euro area." Greece is being kept afloat by bailout loans from other eurozonecountries and the International Monetary Fund, and losing themwould lead to state coffers running out of money, including forpensions, health care and salaries. It is unclear how the Juneelection will affect the continued disbursement of the loaninstallments. "The Greek people need to know what they are voting for," GermanForeign Minister Guido Westerwelle said Wednesday. "Namely notabout party politics but about the future of Greece in Europe andthe euro. We hope and expect at the same time that alldecisionmakers in Greece are now aware of their responsibility. Chancellor Angela Merkel's spokesman, Steffen Seibert, saidGermany's wish was that "a Greek government which is capable ofacting emerges as soon as possible from these elections." The spokesman would not comment on the bailout money due Greece atthe end of June. The instability has led to questions about Greece's prospects ofremaining in the euro. "If the country's budgetary commitments are not honored, thereneeds to be appropriate revisions, which means either supplementaryfinancing and additional time, or mechanisms for an exit, which inthis case must be orderly," IMF head Christine Lagarde said onFrance 24 television. Greece leaving the euro "is something that would be extremelyexpensive and would pose great risks, but it is part of the optionsthat we must technically consider." Greece now faces a month of inertia, with a government hamstrung byparty leaders' insistence that it can take no binding decisions. Alexis Tsipras, head of the Radical Left Coalition, or Syriza,which came a surprise second in the May 6 election aftercampaigning on an anti-bailout platform, said he had requested"that the caretaker government should not implement measures thatwould involve further cuts in salaries, pensions and publicspending, that would dismantle labor relations or allowprivatizations. " Tsipras said he also asked for a freeze on every ongoing sale ofstate property. The Greek privatization fund later said it had already decided todelay until after the election any decisions on the country's keycommitment to sell off some state assets. Under its internationalbailout agreements, Greece must raise 19 billion ($24.2 billion)through privatizations by 2015 — and has so far raised about 1.5 billion. Tsipras is the front runner for the next election. Recent opinionpolls have shown him as likely to come first in the June vote,though with nowhere near enough votes to form a government on hisown. The two mainstream parties, conservative New Democracy andsocialist PASOK, have warned that anti-bailout policies will leadGreece out of the euro. "Two courses lie ahead of the Greek people: Either to changeeverything in Greece — with changes which can be carried outin a Europe that is also changing — or to experience theterror of an exit from the euro, the terror of isolation outsideEurope and the collapse of all we have built so far," said NewDemocracy head Antonis Samaras. A win by Tsipras would put him in a dominant position to make acoalition deal with other anti-bailout parties. "This will make reaching an agreement between the next governmentand Greece's international creditors extremely difficult, raisingthe risk of a Greek exit from the euro and sovereign debt default,"said Robert O'Daly, Senior Economist at the Economist IntelligenceUnit. "The consequences of this would be dire for Greece andprobably the rest of the euro area." ___ Derek Gatopoulos and Nicholas Paphitis in Athens, Geir Moulson andFrank Jordans in Berlin, Raf Casert in Brussels, and AnnitaMordechai contributed. 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