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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 464.71+1.5%Jan 26 4:00 PM EST
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To: 2MAR$ who wrote (90275)5/16/2012 5:57:21 AM
From: KyrosL1 Recommendation  Read Replies (2) of 219782
 
A bank run is the most probable way by which Greece will exit the Euro. Greek depositors are becoming adept of ways to transfer money out of the country. The banks are even facilitating the process by making it very easy to transfer money to their subsidiaries outside Greece -- at least the money remains within the same bank. Money transfers are legal, since capital movement is free within the EU. Money can be transferred instantly to banks in other EU countries from Bulgaria to Cyprus. Publicity, like the Greek President's comments or unfavorable poll numbers in the upcoming repeat elections, may trigger such a bank run in an instant. Within days of such a run Greece will be begging the EZ to let it out of the Euro, since the banking system will be unable to function within the Euro.
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