Has the Greek bank run already started? [NotSoBreakingGeo] - MarketTicker Forums


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User Info	Has the Greek bank run already started? in forum [NotSoBreakingGeo]
Mangoelvis Posts: 1725 Incept: 2009-07-11 Las Vegas, NV	Courtesy ZH: http://www.zerohedge.com/news/has-greek-.... Quote: "Anxious Greeks have withdrawn as much as 700 million euros ($893 million) from the nation’s banks since the inconclusive May 6 election, President Karolos Papoulias told party leaders yesterday, according to a transcript of the meeting posted on the presidency’s website today. Papoulias said he got the information from the head of the Bank of Greece, the central bank, George Provopoulos, according to the transcript." While this was likely a negotiation talking point to facilitate the formation of the government, the reality as we now know is that there has been NO government formed, which now means that the bank run will only get worse. Art Cashin was on this morning too explaining in simple terms why it makes sense for Greeks to hoard Euros now, instead of waiting until the Drachma devalues their $$$. Sounds like he was late... ---------- Evolutionarily speaking, sloths must taste terrible. Last modified: 2012-05-15 14:01:18 by mangoelvis 2012-05-15 13:58:47 Permalink
Krs Posts: 685 Incept: 2009-05-07 Colleyville, Texas	Did Greece make it's scheduled debt payment today? Does that have anything to do with the fade in the markets? ---------- Fog, smoke, and mirrors... perhaps those tin-foil-hat wearing digital dickweeds were on to something? Tyler Durden on the Fed – Feb 28, 2013 2012-05-15 17:32:59 Permalink