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Opinion - Greek banks prepare plan to raid deposits to avert collapse - FT.com - John Gelmini

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The need for bail ins was established by Merkel and the EU at the beginning of last year and the Cypriot “hair-cutting ” some set the precedent and represented a dry run. 110 more words


Greece defaults

The Greek government-debt crisis (also known as the Greek Depression) started in late 2009, as the first of foursovereign debt crises in the eurozone – later referred to collectively as the European debt crisis. 160 more words


RT: Payback time? Greek PM seeks reparations over Nazi occupation & war-time loan

Published time: February 09, 2015 10:12
Edited time: February 09, 2015 11:20

Greek Prime Minister Alexis Tsipras (Reuters / Francois Lenoir)

Prime Minister Alexis Tsipras, referring to Nazi Germany’s four-year occupation of Greece and a forced war-time loan during World War II that saddled the Greek economy in huge debt, wants Berlin to pay reparations. 522 more words


Zerohedge: Greece Gambles On "Catastrophic Armageddon" For Europe, Warns It "Only Has Weeks Of Cash Left"

This is important reading if you want to understand how things may unfold in the coming weeks. ~J


One of the bigger problems facing the new, upstart Greek government, which has set before itself the lofty goal of overturning 6 years of oppressive European policies and countless generations of Greek cronyism, corruption and tax-evasion is not so much the concern about deposit outflows and bank runs – even though it most certainly will be in the next few days unless the Tsipras government finds some resolution to the dramatic standoff with Merkel and the ECB – but something far more trivial: running out of money. 2,111 more words