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Greece Scrambles To Prevent Deposit Run Goldman Warned About In Its "Worst Case"
Zerohedge ^ | 12/29/2014 | Tyler Durden

Posted on 12/29/2014 8:21:15 AM PST by GilGil

Stripping all the political correctness, what Goldman said is that unless Greece quickly folds back in line and does as unelected Brussels eurocrats demand, there may well be a Cyprus-style bank closure coupled with preemptied bank runs.

Oops. Because if that was the doubled-down bluff, then Greece just called it, and the "downside scenario" is now in play.

Which means Greece now has to scramble to avoid precisely what Goldman warned would happen if the Greeks dared to put their (meagre) savings at risk. And, case in point, here is the Greek finance minister rushing to squash the next steps, which - as Goldman so conveniently explained - involve potential bank runs, a potential bank holiday, and potential Cyprusing of the financial system, only this time it is not Russian oligarchs who are most exposed - they have learned their lessons by now - by ordinary Greeks.

(Excerpt) Read more at zerohedge.com ...


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; Government
KEYWORDS: alexistsipras; bank; collapse; cyprus; europeanunion; greece; nato; run; syriza; tylerdurden; tylerdurdenmyass; zerohedge
Merry Christmas to all the Greeks from Goldman Sachs! Goldman Sachs has produced just about every Treasury Secretary for the last 30 years. These people are total evil.
1 posted on 12/29/2014 8:21:15 AM PST by GilGil
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To: GilGil

BFL


2 posted on 12/29/2014 8:41:46 AM PST by Old Sarge (Its the Sixties all over again, but with crappy music...)
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To: GilGil

I agree with ZH, Greece is toast. It is just a matter of when.


3 posted on 12/29/2014 8:45:48 AM PST by Former Proud Canadian (Gold and Silver are Real Money, Accept No Substitutes)
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To: GilGil

Wait. You mean papering over the bank loan / debt problems in Greece with more bank loans didn’t solve the problem? I can’t believe it!


4 posted on 12/29/2014 9:41:00 AM PST by Flick Lives ("I can't believe it's not Fascism!")
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; cardinal4; ColdOne; ...

5 posted on 12/29/2014 9:54:59 AM PST by SunkenCiv (Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
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To: GilGil; Old Sarge; urtax$@work; Velveeta; Whenifhow; null and void; blueunicorn6; JDoutrider; ...
”Image

6 posted on 12/29/2014 10:59:01 AM PST by LucyT
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To: GilGil

The usurper is taking notes. His little trial run on NK’s internet was successful so just wait until Greece/Russia/ Venezuela’s slump hits the US.


7 posted on 12/29/2014 11:36:54 AM PST by bgill (CDC site, "we still do not know exactly how people are infected with Ebola")
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To: Former Proud Canadian

The question is what country is next?


8 posted on 12/29/2014 12:13:56 PM PST by GilGil
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To: GilGil

There’s nothing conservative about throwing good money after bad.


9 posted on 12/29/2014 12:34:32 PM PST by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: GilGil
Seemingly there is a geographical component to that question. Cyprus is in the neighborhood. Then Greece. Russia and Turkey are on the bubble. Italy is weak and close by.

Pick 'em.

10 posted on 12/29/2014 12:41:40 PM PST by Former Proud Canadian (Gold and Silver are Real Money, Accept No Substitutes)
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To: null and void; Nachum; Kartographer; Kackikat; LucyT; butterdezillion; INVAR; Dick Bachert; GOPJ; ..
As we watched Cyprus implode, so will it happen again, and elsewhere...

For thus has the Lord said unto me:
“Go, set a watchman, Let him declare what he sees.”
Isaiah 21:6

The Watchman Ping List - FReepmail Old Sarge for details!

11 posted on 12/29/2014 2:20:27 PM PST by Old Sarge (Its the Sixties all over again, but with crappy music...)
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12 posted on 01/25/2015 12:12:34 PM PST by SunkenCiv (Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
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