Greeks Panic By Taking Deposits From Greek Central Bank

Here is the first signal that Greece is going to collapse, pull (or be forced) out of the Eurozone. Greeks no longer believe in their system. It is not going to be pretty and it WILL effect the 2012 elections as Obama, Bernacke and Geithner will be forced by world powers to back up the Euro. 

Will the "emergency" in Greece for Obama to declare martial law? We don't think so, unless there is a move to restrict what Americans can take out of our banks. A panic would set up the government intervention.

Conservative Tom

GREEK BANK RUNS SIGNAL NEW LEVEL OF PANIC

News

USA Today

by: Nikolia Apostolou and Renuka Rayasam

Thursday, May 17, 2012

Greece's financial crisis threatens to bring down the euro and return Greece to the drachma, the country's previous currency that would likely be worth far less than euros.Photo Credit:AP

Greeks withdrew more than $900 million Monday and another $600 million Tuesday, according to the Greek Central Bank. While deposits have been steadily leaving banks since the start of the country's debt problems in 2009, this week's outpouring of cash reflects a new level of panic, analysts say. ...

Some Greek fears the fight against austerity could force Greece out of the 17-member eurozone of nations that use the euro as currency and require the country to return to the drachma, the previous Greek currency that would likely be worth far less than euros.

"It's a game of chicken between the EU and Greece," says Raoul Ruparel, head of economic research at Open Europe, a London-based think tank.

Read more:http://times247.com/articles/greek-bank-runs-signal-new-level-of-panic#ixzz1vFTmQduN