With the ECB now shutting off direct funds to Greece,
today one of the greats in the business warned King
World News that all hell is now breaking loose in Europe.
He also warned that the situation is spiraling out of control
and deteriorating quite rapidly.
Eric King: “The ECB has now shut off direct funds to Greece.
The ECB is now playing hardball with the Greek negotiators.”
John Hathaway: “This is just a sign that things are spiraling
out of control and in a much worse direction than central
planners had expected. That’s what spooked the markets
late Wednesday. I was amazed to see the Dow give up all
of its gains in the space of half an hour….
RED ALERT : Massive massive bank withdraws in Greece
Quite a day today. First off the ECB has decided that it will not
fund Greece anymore and that should kick off a huge bank run
tomorrow.
Let’s head immediately to see the major data points for today:
the European game of chicken is simple:
threat of Greek bank run vs threat of Eurozone collapse
3 of Greece banks have tapped emergency funding due to
massive withdrawals
ATHENS — Three of Greece’s four major banks have started
to tap emergency funding from the Greek central bank as some
depositors have withdrawn their money due to political uncertainty,
two sources familiar with the situation told Reuters on Tuesday.
Greek banks are facing a new crisis after Prime Minister Alexis
Tsipras’s left-wing government stormed to power last week with
a pledge to abandon a bailout lifeline keeping the country afloat.
Tightening liquidity conditions ahead of a Jan. 25 election prompted
the Bank of Greece to ask the European Central Bank to approve
the emergency liquidity line for all of the country’s top lenders –
National, Piraeus, Alpha and Eurobank.
” Greece debt stands at around 350,000,000,000 € ”
This is from the economist a trusted Wall Street source
WE WILL BE FINE , NOBODY PANIC !!
CURRENT FINANCIAL SITUATION
PREDICTED IN MOVIE
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