- ECB To Steal Greek Bank Deposits As Greece To Default Within Two Weeks Sending Shockwaves Around The World!
Today one of the greats in the business warned King World News that Greece will default within two weeks, sending shockwaves around the world! He also stunned KWN when he said what the ECB is about to do to Greece.
James Turk: “The situation is Greece is deteriorating rapidly, Eric, and the implications extend far beyond the euro. KWN readers need to be ready just in case there are some nasty surprises over the next couple of weeks that roil markets around the globe….
Greece To Default Before April 14, Sending Shockwaves Around The World!
If Greece can’t pay, it would be a default, which in turn will trigger acceleration clauses in Greece’s other debt obligations that would require immediate repayment of those debts too. That is when Greece blows up and sends shockwaves around the globe, which will particularly rock the ECB as well as with the remaining depositors in Greek banks. But I think Greece will actually blow up before April 14th.
Greek Bank Runs Accelerating Into A Full-Blown Panic
The run on bank deposits in Greece has been fierce. From a peak of total deposits of nearly €240 billion six years ago, deposits have collapsed to the lowest level in ten years to an estimated €130 billion today. Some €30 billion of that amount has been lost just in the past three months.