Greek Bank Run Getting Serious – Citizens Queue Up in Greek Banks?!

Source - Forexcrunch

On the eve of the second European Summit that will discuss significant haircuts on Greek debt, the citizens of the debt later country are lining up to grab their money.

Greek banks hold a significant amount of Greek debt and they have already experienced a slow bank run. The evidence seen now is not only in the numbers, but also in queues.

This is also being reported in an English translation of an online German publication here.

Can anyone confirm this from other sources or any Greeks on board aware of this?

Cheers

Wasn't there a story last week that the richest Greeks have already managed to get something like 288 billion Euros out of the Greek banking system and into other accounts

reply to post by FFS4000

Only in the last week it was revealed that 200 billion stash rich Greeks in Switzerland.

This from one of the links I cite above.

Originally posted by surrealist
reply to post by FFS4000

 

Only in the last week it was revealed that 200 billion stash rich Greeks in Switzerland.

This from one of the links I cite above.

i know quite a few people in the euro (from ireland, italy and france) who have alraedy changed their money to swiss francs and banked it there..

here is a big in depth thread i started some time ago on the crisis...

www.abovetopsecret.com...

Bank runs are the European leaders' worst fear, and their most serious challenge is how to contain them until they have pushed through their 'rescue' measures.

U.S. Treasury Secretary Timothy Geithner told an IMF policy committee that “The threat of cascading default, bank runs and catastrophic risk must be taken off the table,” “Decisions as to how to conclusively address the region's problems cannot wait until the crisis gets even more severe.”

link

In fact, it looks like the first public bank runs started in August, maybe even earlier:

Less than an hour ago, Larry Kudlow tweeted the following: "Sources tell me Italy has to restructure bonds. Deposit run on Italian banks.. EU will have to mount Tarp rescue...

posted back in August

European leaders are all agreed what should be done, but the problem is twofold: in order to put this vast 'rescue fund' together, European nations must hand over their sovereignty. The wording is vague, ("a partial shared sovereignty") but the governments all know what is at stake: hand all authority to a supercommissioner with power to fine nations who don't toe the line and/or take away their voting rights. Even where governments are agreed over this (like the Dutch gov't for example) they need time to find a way to break the news to their constituents.

The second problem is what happens when the man in the street finds out that his money has been taken by the banks: grand theft. All hell would (will) break loose. The resulting social chaos would need some very heavy handed containment, even repression. And it wouldn't happen just in Europe. Any bank with heavy exposure to European debt would not hesitate to take its citizen's deposits to cover their losses. Check out this YouTube clip with Reggie Middleton. He can explain it so much better. If you haven't got your money out of the bank yet, you will probably reach for your car keys as soon as you have finished watching this: YouTube clip of Reggie Middleton

(Can anyone put this clip in for me? It didn't work when I tried it)

reply to post by BooBetty



Watching it now. Will edit my comment in, but here is your vid.

I agree with the guy being interviewed. Instead of bailing out these banks, we should repudiate all debts and allow these banks to go bust. Get rid of all mega banks and in the future allow only small community and regional banks. No more international or even interstate banks.

Good.

Run the hell out of those banks. Theres no sense in maintaining a broken system, so lets junk it and start again without a central bank. Andrew Jackson did it.

reply to post by DarthMuerte


Bumping this just to point members to the video Darth posted. Very interesting!

Why put it from one bank to another though? Wouldn't you be getting it in another currency and leaving it at home at the end of the day they are all linked to the same agenda at the end of the day. Alos there was a prediction from the Mayan that 28th of Oct will be when money will have no meaning does it look like we are headed in that direction? Also there is the quickening that starts there too where things will be developed quicker than ever imagined awesome times ahead.

>>___?___>>__?__ >> _?_> >When The First Country (Greece?) Goes Down You’ll Have Two Weeks To Get Your Money Out Of The Bank – Fall 2001 – David Wilkerson

I'm surprised that it took this long for them to do this, but good for them!

After googling "Credit Unions in Greece", I haven't found any in the country of Greece, but there are credit unions for the Greece community located in NY.
Maybe they need to get together and start one in Greece.