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Greek bank run accelerates Monday and Tuesday

May 16, 2012

In the past 10 days, Greeks withdrew over $1 Billion worth of euros from their banks.

This week, however, in one day, they withdrew $900 million and expected this to continue daily.

"Greeks pulled nearly $900 million out of their banks on Monday and seemed to be withdrawing money at a similar pace on Tuesday,Reuters reports."

It looks like the end is coming at an accelerated pace. Watch for the domino effect. First Greece, then Spain and Italy. Then because French banks are the most exposed of all, watch France get forced out of the EU or die trying.

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Category: In The News

Dr. Stephen Jones

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