Tuesday, December 06, 2011

A run on the banks? Greeks are preparing for it.

A harbinger of things to come. Greece cannot sustain their debt load and their debt and the EU and Europe cannot save them. The Greek economy is about to collapse.

Anxious Greeks Emptying Their Bank Accounts

Many Greeks are draining their savings accounts because they are out of work, face rising taxes or are afraid the country will be forced to leave the euro zone. By withdrawing money, they are forcing banks to scale back their lending -- and are inadvertently making the recession even worse.

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