Currency Collapse

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Cash is a scarce commodity in Greece.

In June, Greek banks declared a surprise limitation on how much could be withdrawn from an account. At present, the government still limits the cash withdrawals of its citizens.

Of course, this is just the most recent development in a series of events that make up the cash squeeze. In response, Greeks have done what all people do when they cannot get enough currency – improvise. Continue reading

Weimar Greece – The Effects of a Currency Collapse

Cash is a scarce commodity in Greece.

In June, Greek banks declared a surprise limitation on how much could be withdrawn from an account. At present, the government still limits the cash withdrawals of Greeks.

And, of course, this is just the most recent in a series of events that make up the cash squeeze. In response, Greeks have done what all people do when they cannot get enough currency – they improvise. Continue reading