Collapsing commodities prices, erratic market turmoil and the bursting of Chinese bubbles are leading to a crisis in confidence in the economic system across the globe. The long-expected crisis to which the global financial and systemic crisis in 2008 may have been a mere prelude may be upon us.
Governments have no appetite for further bailouts. The EU states have passed legislation which will make the banks or rather unfortunate and unsuspecting depositors liable for the bank’s lending and speculative profligacy. Continue reading
Tag Archives: bank holidays
Wake up and smell the collapse: Greece shutters banks for 6 days… no more withdrawals… panic grips the Eurozone… total meltdown approaches
(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. Continue reading