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Greek bank run begins...
06-28-2015, 02:38 PM #1
CmdrDraco Member
Posts:94 Threads:10 Joined:May 2015
600M€ ATM withdrawals on Saturday. Pretty impressive.

They will most likely have to shut down the banks tomorrow (Monday), and most ATM:s are probably empty today.

http://www.huffingtonpost.com/2015/06/27...78858.html
http://www.zerohedge.com/news/2015-06-27...e-open-mon
http://www.bloomberg.com/news/articles/2...calls-vote

No good sign: a queue even at the ATM inside the Athens parliament.:
06-28-2015, 03:10 PM #2
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
I get the feeling sometimes that Greece is a testing ground.
06-28-2015, 03:27 PM #3
CmdrDraco Member
Posts:94 Threads:10 Joined:May 2015
Yeah. Two years ago I had the same testing ground feeling about Cyprus.

Italy next? A 3T€ default isn't really a "testing ground" any more... That is 10x Greece.

http://www.nationaldebtclocks.org/debtclock/italy


I'm kinda seeing a pattern here:

0.03T - Cyprus
0.3T - Greece
3T - Italy
06-28-2015, 03:32 PM #4
White Ribbon call me
Posts:9,779 Threads:371 Joined:Apr 2013
agent_smith.gif
06-28-2015, 04:15 PM #5
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,286 Threads:1,438 Joined:Feb 2011
I still say they are gonna' figure out a way to kick this can down the road for a bit longer.
It's been going on since October 2009
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wonder.gif
06-28-2015, 04:19 PM #6
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
Greek parliament voted to hold a referendum on a Grexit. No one would believe the Greeks would vote to stay in the Eurozone, under IMF ownership, but votes don't matter as Scotland demonstrated.
06-28-2015, 04:20 PM #7
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
06-28-2015, 04:23 PM #8
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,286 Threads:1,438 Joined:Feb 2011
Pinned it. reading.gif

wonder.gif
06-28-2015, 05:03 PM #9
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
06-28-2015, 07:15 PM #10
Octo Mother Superior
Posts:42,621 Threads:1,469 Joined:Feb 2011
The European Central Bank says it not increasing its emergency funding for Greek banks, amid fears that Greece may default on its debts on Tuesday.

The decision not to raise the cap on aid to Greece increases the likelihood of bank closures and restrictions on cash withdrawals, analysts say.

That in turn could eventually result in Greece leaving the euro.

http://www.bbc.com/news/world-europe-33304674

13.gif
06-28-2015, 08:06 PM #11
Octo Mother Superior
Posts:42,621 Threads:1,469 Joined:Feb 2011
<blockquote class="twitter-tweet" lang="en"><p lang="en" dir="ltr">After meeting of Stability Council, the chairman of Piraeus Bank says Greek banks will not open on Monday. Reuters</p>&mdash; Robert Nisbet (@RobNisbetSky) <a href="https://twitter.com/RobNisbetSky/status/615200933815930880">June 28, 2015</a></blockquote>
06-28-2015, 08:19 PM #12
Octo Mother Superior
Posts:42,621 Threads:1,469 Joined:Feb 2011
Greece will shut its banks Monday to avert a financial collapse after the European Central Bank froze emergency loans to the nation’s lenders.

Banks will remain shut until at least after a July 5 referendum called by Prime Minister Alexis Tsipras on whether to accept austerity in exchange for a European bailout,

http://www.bloomberg.com/news/articles/2...ack-monday
06-28-2015, 09:54 PM #13
CmdrDraco Member
Posts:94 Threads:10 Joined:May 2015
1 week bank holiday? Sounds like a good plan lol.gif


http://www.finland.gr/public/default.asp...ture=fi-FI

Embassy of Finland in Athens says that credit cards are not accepted and gas stations are running out of gas due to INCREASED DEMAND.


Quote:SHTF doesn’t care that you always use electronic banking. If the ATMS are down and you have no cash, you cannot buy anything.

SHTF doesn’t care that your truck is almost out of gas and the local gas stations have closed because of the disaster. If you have to bug out, you may end up walking instead of driving.

from http://www.shtfplan.com/emergency-prepar...t_03152013
06-28-2015, 11:22 PM #14
Octo Mother Superior
Posts:42,621 Threads:1,469 Joined:Feb 2011
Banks, ministry advise tourists: "Take cash to Greece"

http://yle.fi/uutiset/banks_ministry_adv...ce/8110398

yup.gif
06-28-2015, 11:33 PM #15
Octo Mother Superior
Posts:42,621 Threads:1,469 Joined:Feb 2011
Reuters: Financial Stability Council recommended closing ATMs on Monday

Reuters is reporting tonight that Greece’s financial stability council recommended that ATMs should be closed on Monday, and that the €60 limit would then kick in on Tuesday.

http://www.theguardian.com/business/live...ilout-live



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