News

**LoP Guest** lop guest User ID: 5992 05-16-2012 08:42 PM

The Bank Runs In Greece Will Soon Be Followed By Bank Runs In Other European Nations

The bank runs that we are watching right now in Greece are shocking, but they are only just the beginning. Since May 6th, nearly one billion dollars has been withdrawn from Greek banks. For a small nation like Greece, that is an absolutely catastrophic number. At this point, the entire Greek banking system is in danger of collapsing. If you had money in a Greek bank, why wouldn't you pull it out? If Greece leaves the euro, all euros in Greek banks will likely be converted to drachmas, and the value of those drachmas will almost certainly decline dramatically. In fact, it has been estimated that Greek citizens could see the value of their bank accounts decline by up to 50 percent if Greece leaves the euro. So if you had money in a Greek bank, it would only make sense to withdraw it and move it to another country as quickly as possible. And as the eurozone begins to unravel, this is a scenario that we are going to see play out in country after country. As member nations leave the eurozone, you would be a fool to have your euros in Italian banks or Spanish banks when you could have them in German banks instead. So the bank runs that are happening in Greece right now are only a preview of things to come. Before this crisis is over we are going to see bank runs happening all over Europe.
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http://theeconomiccollapseblog.com/archi...an-nations

**LoP Guest** lop guest User ID: 96788 05-16-2012 09:13 PM

Glad i withdrew my money last year from my bank.

I am not stressed about it, it is in my safe lmao.

**The Lucky AC** Everything in life is luck User ID: 888 05-17-2012 12:00 PM

**Galaxy**

Bankia customers pull out over 1-billion euros
Customers of troubled Spanish bank Bankia, nationalized last week, have taken out over 1 billion euros ($1.3 billion) from their accounts over the past week, El Mundo newspaper reported on Thursday.

The newly appointed chairman, Jose Ignacio Goirigolzarri, informed a board meeting that customers had pulled out funds since the bank was taken over by the government, El Mundo said, citing information from the board meeting it had seen.

The government took over Bankia, the country's fourth largest lender, on May 9 in an attempt to dispel concerns over the bank's ability to deal with losses related to a 2008 property crash.

http://www.businesslive.co.za/world/int_...lion-euros

**Zero Point**

LoP Guest Wrote:

Glad i withdrew my money last year from my bank.

I am not stressed about it, it is in my safe lmao.

**LoP Guest** lop guest User ID: 91319 05-17-2012 12:32 PM

i got my last 10$ out today

being f*cked over does take some time to get used to

its all relative anyway

we are dust in the winds of change

thankfully am not leaving any offspring behind