(NaturalNews) The bank holidays have begun in Greece as the banks are now shuttered for the entire coming week. As Sky News reports, “The drastic move comes after people rushed to withdraw their cash amid panic ahead of the referendum on bailout terms.”
Greek citizens are now “hoarding gasoline and groceries,” reports the New York Times, and long lines are the new norm at ATMs and gas stations.
On the brink of a meltdown
“Greek banks were on the brink of meltdown last night after the shock announcement that its crisis-hit government would hold a referendum on the terms of a fresh international bailout,” reports the Daily Mail. “With fears growing that the country’s banks could grind to a halt this week, the Greek authorities are expected to consider imposing capital controls as early as tomorrow morning.”
The Greek system of unlimited debt spending and endless retirement benefits for government workers has just hit a brick wall. The money has run out, and there are no more lenders willing to flush any more assets in order to fund Greece’s wildly unbalanced budgets. Debt payments are due on an ever-increasing schedule, and Greece simply doesn’t have the money to pay.
The Eurozone house of cards begins to collapse
What’s clear at this point is that the Eurozone’s house of cards is about to start collapsing. Greece may be the first to fall, but it won’t be the last. It is the interdependency of international banks that now causes local events to unleash international consequences.
All the government operatives, as usual, are lying to the public by assuring them that all their bank deposits are incredibly safe and secure. The public has been urged to stop trying to take their money out of the banks, but even that propaganda is no longer necessary as the banks have been shut down. On these so-called “bank holidays,” you can’t withdraw money, transfer money or even process bank account checks.