GREECE = BANKS TO BE CLOSED FOR WEEK

https://www.youtube.com/watch?v=KH6v9k--oN8

THE ECONOMIC COLLAPSE HAS BEGUN IN GREECE
FreedomFighter2127

Published on Jun 28, 2015

THE ECONOMIC COLLAPSE HAS BEGUN IN GREECE BREAKING S&P 500 EMINI FUTURES SLIP 1.7% AT THE OPEN Greek banks will not open until July 7 in an attempt to avoid financial panic, after ECB capped the emergency funds keeping them running


http://www.dailymail.co.uk/news/article-3141480/Hundreds-queue-outside-banks-fears-Grexit-grow-ahead-MPs-vote-bailout-referendum.html

These are my notes from a previous post on this forum of the writer's take on what will happen:

When Greece defaults, Mexico will default within 2 weeks.
German, Swiss, and French will be affected
Then a second country will go down (Argentina or Brazil)
After Mexico goes down, the Latin American countries will be withdrawing money from US banks
There will be a bank holiday.
6 months of hell will follow.

Italy will cause the 'holiday' in question. The greeks were broke before borrowing to produce their olympiad. (Next up brasilia) The atms aren't outta cash, the Greeks were a decade ago.....working towards the beast digital system; no atm runs, no currency flux created chaos resulting in the managed solution...

Dow Tumbles 200 Points - Gives Up 2015 Gains


Submitted by Tyler Durden on 06/29/2015 11:25 -0400

• Momo
  
  

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Trannies touched unchanged and instantly reversed but Dow Industrials only managed a modest bounce of opening lows.

 
However, the momo did not last and there's no Nike to save the day today - The Dow is now down over 200 points and has tumbled back into the red for 2015.
 

 
Unleash The Bullard!!

Greek Contagion Spreads As Several Italian Bank Stocks Failed To Open
Published: June 29, 2015
   

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Source: Zero Hedge



While things have normalized since the open thanks entirely to the SNB's aggressive EUR-buying, CHF-selling intervention (good to see that central banks have read the BIS' report and have learned from their prior intervention mistakes), earlier this morning we got a snapshot of what happens if and when the SNB, and then the ECB itself, finally lose control when as a result of the Greek crisis the contagion promptly spread a few hundred kilometers west to Italy where as the WSJ reported, "several Italian banks failed to start trading on Monday as fears over a Greek debt default induced many investors to shed peripheral stocks, including Italian, with banks suffering the most."
As the paper reported sales orders on Italian stocks, in particular financial stocks, piled up before the market opening. At the start, the sales orders were so numerous that the system couldn't manage to process them, something that often happens when specific news causes a sell-off on a stock.
Theoretical prices for Italian banks--the prices at which they would have started trading--hovered around losses of 8% to 10% at the beginning of the trading session.
UniCredit SpA and Intesa Sanpaolo managed to start trading some time after the market opened, but were suspended immediately, accumulating losses of around 6% compared with Friday's closing prices.
Ironically, in an attempt to avoid just this kind of selling panic, on Sunday, Italy's banking lobby head Antonio Patuelli dismissed fears of contagion on Italian lenders, saying the country's banks' direct exposure to Greece was less than EUR1 billion.

For now the SNB has stabilized things but how much longer will this artificial "stability" continue especially if the just concluded speech by Jean-Claude Juncker managed to antagonize Greeks even further and pushed all those who were on the fence about this Sunday's coming Greferendum, solidly into the "No" camp. 

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Greece Will Default To IMF Tomorrow, Government Official Says


Submitted by Tyler Durden on 06/29/2015 12:21 -0400

That's it!
Move along.


Earlier today, as the exchange between Greece and its creditors got increasingly belligerent, Estonian Prime Minister Taavi Roivas told public broadcaster Eesti Rahvusringhaaling in interview that a possible Greek decision to leave euro area wouldn’t soften stance of other EU countries and that Greece’s debt would still remain outstanding and creditors would expect this money back."
"If Greece leaves, the value of their new national currency would decline very fast, so their solvency would still worsen further. They will either have to cut spending or improve their tax revenues. There are no other options."
So did this latest antagonism change the Greek mind? According to a flash headline by the WSJ released moments ago, not all. In fact, Greece just made it official that it would default to the IMF in just over 24 hours.

The Strategic Consequences of "Grexit"  This is a great article on how a Greek default will trigger their withdrawal from the EU and the consequences of that.

Quote :

• Last January, ISIS revealed that it is smuggling terrorists into Europe by hiding them among the immigrants leaving Turkey.
  
• "If Europe leaves us in the crisis, we will flood it with immigrants, and it will be even worse for Berlin if in that wave... there will be some jihadists of the Islamic State, too." — Panos Kammenos, Defense Minister of Greece
  
• Greece is a member of NATO. The whole world witnessed how the Defense Minister of one NATO country was threatening other NATO members with unleashing Islamic terrorists on them.
  
• A Greek exit will lead to a power vacuum in the southeastern corner of Europe, which Russia (and China) will be only too eager to fill. The Chinese are currently negotiating with the Greek government to acquire an even larger part of the port of Piraeus.