Greek Bank Run Update: Up To $1 Billion A Day Now | ZeroHedge
Getting very interesting by the day………Yesterday the Greece bank run was 100-500 million Euros per day…..
At the daily rate of doubling the "estimate" by Friday the trot will be an all out spiriting and Greece will be experiencing a $4 billion in outflows. We wonder which banks will have any cash left at that point.
The EU’s Real Agenda: “Lie Until You Are About to Die”
So we now know that’s Spain’s political leaders will lie right up until the point of systemic collapse.
With that in mind, I fully believe the EU is on the verge of a systemic collapse. How can a €100 billion bailout for (from a currently non-existent entity, the ESM, no less) save Spain when even its Prime Minister admits the real needs could be in the ballpark of €500 BILLION.
Ignore this week’s move, this is just the usual options expiration nonsense. The Spanish bailout (assuming it even occurs) has done nothing to address the underlying problems in the EU banking system.
The ongoing sovereign & big bank downgrades from the big 3 rating agencies is hemorrhaging their existence…it appears that India will soon be downgraded to junk status……
European Banks Preparing To Boycott Big Three Rating Agencies
Some of Europe's largest banks are intensifying discussions about a move to reduce their co-operation with the big three credit ratings agencies amid widespread dissatisfaction with their decision-making.
Moody's is expected to announce downgrades to the ratings of British banks including Barclays, Lloyds Banking Group and Royal Bank of Scotland in the next few days.