Bank run in Greece is well underway

[John Clark]

Dear all,

It's been some time since I posted an update.

I have much information to pass on but won't have time to prepare it for at least a week or so.

In the meantime it seems like the massive stimulus and "can-kicking" initiated in Europe last year is finally depleted and reality is kicking back in.

As predicted by myself and others some time ago, Greece will have little choice but to exit from the Euro currency and default in the process. Despite Greece's economy being quite tiny relative to the major Eurozone countries, the risk of flow-on effects and contagion causing a Europe-wide (and possibly even a global) banking system crisis should not be discounted. If such an event were to occur, persons who took protective measures that I have previously highlighted would put themselves in a far better position.

That is all I have right now.

For those interested, the link below provides some detailed analysis of the current state of the Greek banking system and some rough outlines of "how long it's got left":
Greece: New Elections Called and the Run on the Banks Intensifies (Pater Tenebrarum)

Cheers

John