Are you paying attention? After five years of can kicking, we are finally seeing a pivotal point of economic confrontation between the Greek people, their government, and their creditors. This is what a failure of central planning looks like. Watch it play out. Take notes. Here are a few:
Greek Government-Debt Crisis – Wiki (for some catch up) –> Does this sound familiar to anything you’ve heard of?
Cash Withdrawals and Hoarding as Default Looms Over Greece – NYTimes –> Does it seem like this might be an issue?
Greek Capital Controls Begin: Greek Banks, Stock Market Will Not Open On Monday – ZeroHedge –> Hmm… What happens next?
“GREEK BANKS TO REMAIN CLOSED UNTIL JULY 6 : KATHIMERINI
GREEK GOVERNMENT ISSUES CAPITAL CONTROLS, BANK HOLIDAY DECREE
GREEK GOVT LIMITS CASH WITHDRAWALS TO EU60/DAY AS OF JUNE 28
GREEK CAPITAL CONTROLS INCLUDE LOCAL BRANCHES OF FOREIGN BANKS
GREEK GOVT SETS UP COMMITTEE TO APPROVE PAYMENTS ABROAD ”
–> And then?
–> And then?
–> And then?