I would technically want to write something beyond Greece. But it beckons. Because: Greek Banks to be closed on Monday after ECB freezes liquidity tap: Greece will introduce capital controls and keep its banks closed tomorrow after international creditors refused to extend the country’s bailout and savers queued to withdraw cash, taking Athens’ standoff to a dangerous new level. The Athens stock exchange will also be closed as the government tries to manage the financial fallout of the disagreement with the European Union and the International Monetary Fund. Greeks can only withdraw 60 Euros a day after Tuesday. (As in, banks are closed, but ATMs will reopen) The ECB won’t give any further liquidity (it stays at current levels). Greek people have already withdrawn 1.3 billion euros just over the weekend and only 40% of ATMs had any money in them before this call. Also read: One third of Greek ATMs Emptied as Greece Goes Political : Greece has a referendum next Sunday on whether they should accept the bailout or not.… (Read On…)
[via Capital MindCapital Mind]
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