Greek Officials Warn “Some Banks May Not Open Monday”


sentinelblog

Following Tsipras’ surprise referendum decision (and subsequent pulling of proposals by Troika the institutions), Greece’s bank jog has turned into a full sprint. ATM lines began to form at 2am, minutes after the announcement and now many ATMs are out of money and, as Bloomberg reports, some Greek banks are drastically limiting cash transactions. Despite all the reassurances that “banks will open Monday,” two senior bank executives have warned that some lenders will not be able to open Monday (unless more emergency liquidity is released). Crucially, this is not just about banks being in trouble – drained of deposits electronically – this is running out of physical banknotes, there is literally no more ‘real’ money left in Greek banks.

Read More Here: zerohedge.com

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