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In speaking to the liquidity crisis in Greece, the head of the Greek Banking Council, opines: “If that (cash) had not been removed, the Greek banks would not have had a liquidity problem,” she said…Katseli noted that since 2008, 124 billion euros worth of deposits has been withdrawn from Greek banks and that 40 billion of that money has been removed in the last few months.
You have to wonder how this would play out in a nation likely more leveraged than Greece. – T.K.
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Items from Mr. Econocobas: