{"id":9516,"date":"2015-06-29T07:26:28","date_gmt":"2015-06-29T12:26:28","guid":{"rendered":"http:\/\/olduvai.ca\/?p=9516"},"modified":"2015-06-29T07:26:28","modified_gmt":"2015-06-29T12:26:28","slug":"and-so-it-begins-greek-banks-get-shut-down-for-a-week-and-a-grexit-is-now-probable","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=9516","title":{"rendered":"And So It Begins \u2013 Greek Banks Get Shut Down For A Week And A \u2018Grexit\u2019 Is Now Probable"},"content":{"rendered":"

And So It Begins \u2013 Greek Banks Get Shut Down For A Week And A \u2018Grexit\u2019 Is Now Probable<\/a><\/h3>\n

\"Greece<\/a>Is this the beginning of the end for the eurozone?\u00a0 For years, European officials have been trying to \u201cfix Greece\u201d, but nothing has worked.\u00a0 Now a worst case scenario is rapidly unfolding, and a \u201cGrexit\u201d has become more likely than not.\u00a0 On Sunday, the European Central Bank announced that it was not going to provide any more emergency support for Greek banks.\u00a0 But that was the only thing keeping them alive.\u00a0 In order to prevent total chaos, Greek banks have been shut down\u00a0for at least a week<\/a>.\u00a0 ATMs are still open, but it is being reported that daily withdrawals will be limited to 60 euros.\u00a0 Of course nobody knows for sure if or when the banks will reopen after this \u201cbank holiday\u201d is over, so needless to say average Greek citizens are pretty freaked out right about now.\u00a0 In addition, the stock market in Greece is not going to open on Monday either.\u00a0 This is what a national financial meltdown looks like, and the nightmare that has been unleashed in Greece will soon start spreading to much of the rest of Europe.<\/p>\n

This reminds me so much of what happened in Cyprus.\u00a0 Up until the very last minute, politicians were promising everyone that their money was perfectly safe, and then the hammer was brought down.<\/p>\n

The exact same pattern is playing out in Greece.\u00a0 For example, just check out what one very prominent Greek politician said on television\u00a0on Saturday<\/a>\u2026<\/p>\n

\u201cCitizens should not be scared, there is no blackmail,\u201d Panos Kammenos, head of the government\u2019s coalition ally, told local television. \u201cThe banks won\u2019t shut, the ATMs will (have cash). All this is exaggeration<\/strong>,\u201d he said.<\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n

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And So It Begins \u2013 Greek Banks Get Shut Down For A Week And A \u2018Grexit\u2019 Is Now Probable Is this the beginning of the end for the eurozone?\u00a0 For years, European officials have been trying to \u201cfix Greece\u201d, but nothing has worked.\u00a0 Now a worst case scenario is rapidly unfolding, and a \u201cGrexit\u201d has […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[6805,6224,63,6806,6807,282,285,6061,6808,6809,1167,6435,6810,6811,2598,1138],"class_list":["post-9516","post","type-post","status-publish","format-standard","hentry","category-economics","tag-atms","tag-bank-holiday","tag-banks","tag-economic-collapse-in-greece","tag-economic-crisis-in-greece","tag-european-central-bank","tag-eurozone","tag-financial","tag-financial-collapse-in-greece","tag-financial-meltdown","tag-greece","tag-greek-banks","tag-greek-banks-closed","tag-greek-crisis","tag-grexit","tag-stock-market"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9516"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9516\/revisions"}],"predecessor-version":[{"id":9517,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9516\/revisions\/9517"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}