If Greece defaults

[deisik]

Greek banks seem to be imposing unofficial capital controls over deposit withdrawals after having lost €400 million over the weekend. The maximum amount is said to be €3,000 on walk-in withdrawals...

A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official.

http://www.zerohedge.com/news/2015-06-22/greek-banks-unofficially-limit-walk-withdrawals-%E2%82%AC3000-ft-reports

[GreenStox]

Greek banks seem to be imposing unofficial capital controls over deposit withdrawals after having lost €400 million over the weekend. The maximum amount is said to be €3,000 on walk-in withdrawals...

A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official.

http://www.zerohedge.com/news/2015-06-22/greek-banks-unofficially-limit-walk-withdrawals-%E2%82%AC3000-ft-reports

3000€ /what?  3000€/day?

I can walk into a bank and witdhraw 3000€ then walk in 10 minutes later and withdraw 3000€ again, did i witdrawed more than the limit, no

[deisik]

Greek banks seem to be imposing unofficial capital controls over deposit withdrawals after having lost €400 million over the weekend. The maximum amount is said to be €3,000 on walk-in withdrawals...

A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official.

http://www.zerohedge.com/news/2015-06-22/greek-banks-unofficially-limit-walk-withdrawals-%E2%82%AC3000-ft-reports

3000€ /what?  3000€/day?

I can walk into a bank and witdhraw 3000€ then walk in 10 minutes later and withdraw 3000€ again, did i witdrawed more than the limit, no

Yes, you "witdrawed" more than the limit. I think you'd better ask what's the difference between "official" and "unofficial" capital controls...

[yayayo]

Greece always had a living standard below most other European countries before gaining access to EU-funding, because Greece has a totally inefficient bureaucracy, high levels of corruption, and a socialist "work ethic".

You are generalizing things. For sure the living standards in Greece were lower than that in countries such as Germany and France, but it was much better when compared to the same in Bulgaria or Romania. Greece played its part, in subsidizing the entry of the Eastern European nations, such as Poland and Romania in to the EU. And Greece is not the only corrupt nation in the Europe. The same can be said about almost all the Eastern European countries.

Well I don't think that Bulgaria or Romania belong to the EU neither. The EU has expanded much too fast and did not care about their own economic standards that once were agreed upon to ensure stability. As a result now the entire EU can be held hostage by Greece due to their fear of contagion effects of Greece exiting their club.

As things seem to play out, we'll most likely see a continuation of Greece's debt orgy with official default delayed for a few more months.

ya.ya.yo!

[mrhelpful]

Greece always had a living standard below most other European countries before gaining access to EU-funding, because Greece has a totally inefficient bureaucracy, high levels of corruption, and a socialist "work ethic".

You are generalizing things. For sure the living standards in Greece were lower than that in countries such as Germany and France, but it was much better when compared to the same in Bulgaria or Romania. Greece played its part, in subsidizing the entry of the Eastern European nations, such as Poland and Romania in to the EU. And Greece is not the only corrupt nation in the Europe. The same can be said about almost all the Eastern European countries.

Well I don't think that Bulgaria or Romania belong to the EU neither. The EU has expanded much too fast and did not care about their own economic standards that once were agreed upon to ensure stability. As a result now the entire EU can be held hostage by Greece due to their fear of contagion effects of Greece exiting their club.

As things seem to play out, we'll most likely see a continuation of Greece's debt orgy with official default delayed for a few more months.

ya.ya.yo!

I say that whole greece problem is going to stay.

Like anything in goverment or stupid public sector, nothing gets fixed and are very very slow.

[lissandra]

Worry not about the greeks, its part of "the plan" around the World Central Banks to manipulate the Stock Markets and tilt it toward the "billionaires" and leave the "crumbs" for the less fortunate.
I would sit on my gas stocks and not buy any other stocks until the Fed gets out of Markets.. I think that is what the Wizards of Financial "hired guns," should do too.

Thats been going on though before bitcoin lol.

And before anything, theres always the few vs the many, except now we have more chances due to a digital age.

[GreenStox]

Greek banks seem to be imposing unofficial capital controls over deposit withdrawals after having lost €400 million over the weekend. The maximum amount is said to be €3,000 on walk-in withdrawals...

A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official.

http://www.zerohedge.com/news/2015-06-22/greek-banks-unofficially-limit-walk-withdrawals-%E2%82%AC3000-ft-reports

3000€ /what?  3000€/day?

I can walk into a bank and witdhraw 3000€ then walk in 10 minutes later and withdraw 3000€ again, did i witdrawed more than the limit, no

Yes, you "witdrawed" more than the limit. I think you'd better ask what's the difference between "official" and "unofficial" capital controls...

There has to be some sort of limit otherwise the bank is liable to pay me. I think many banks will get sued that way, but yea by the time the trial ends they will all be bankrupt lol.

[Erdogan]

They managed to drag it out a few days more, with expanded ELA. God luck.

I see the folks in greece know that the government, the banks, the troika have failed them miserably, but they don't know what to do.

Underscore the private property rights.

Default, keep the euro, reduce taxes, sell off everything to people who have money at home or abroad, use the proceeds to pay the government until they can fire all the emloyees.

The euro is for a single country the currency most akin to sound money that realistically exists.

The Culture Department Incorporated, what an esthetic name.

[BillyBobZorton]

Greek banks seem to be imposing unofficial capital controls over deposit withdrawals after having lost €400 million over the weekend. The maximum amount is said to be €3,000 on walk-in withdrawals...

A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official.

http://www.zerohedge.com/news/2015-06-22/greek-banks-unofficially-limit-walk-withdrawals-%E2%82%AC3000-ft-reports

You said walk-in withdrawals. Which sounds as €3,000 each time you literally "walk-in". What does "walk-in" even mean in this context?
As for putting limits, it's pretty easy in a country where lots of banks are nationalized, they can get away with custom "measures" such as imposing a withdrawing limit per person. Every bank account is attached to an ID citizen address.. so pretty easy to control.

[deisik]

Greek banks seem to be imposing unofficial capital controls over deposit withdrawals after having lost €400 million over the weekend. The maximum amount is said to be €3,000 on walk-in withdrawals...

A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official.

http://www.zerohedge.com/news/2015-06-22/greek-banks-unofficially-limit-walk-withdrawals-%E2%82%AC3000-ft-reports

You said walk-in withdrawals. Which sounds as €3,000 each time you literally "walk-in". What does "walk-in" even mean in this context?

It was not me who first said about walk-in withdrawals, I just repeated in my words what I had read at the link I provided. So, I guess, everyone curious should go and read it. I think "walk-in" here means that you visit a bank in person and (try to) withdraw cash as opposed to wire transfers. In this manner, €3,000 obviously refers to the withdrawal limit per day...

Do you happen to live in Greece or ask just out of idle interest?

[techgeek]

Greek banks seem to be imposing unofficial capital controls over deposit withdrawals after having lost €400 million over the weekend. The maximum amount is said to be €3,000 on walk-in withdrawals...

A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official.

http://www.zerohedge.com/news/2015-06-22/greek-banks-unofficially-limit-walk-withdrawals-%E2%82%AC3000-ft-reports

3000€ /what?  3000€/day?

I can walk into a bank and witdhraw 3000€ then walk in 10 minutes later and withdraw 3000€ again, did i witdrawed more than the limit, no

Yes, you "witdrawed" more than the limit. I think you'd better ask what's the difference between "official" and "unofficial" capital controls...

There has to be some sort of limit otherwise the bank is liable to pay me. I think many banks will get sued that way, but yea by the time the trial ends they will all be bankrupt lol.

Theres no such thing as banks getting sued.

Esp, when they already are the system, and the sueing is probably the government but that really does much besides paying a small fine.

[bit1]

http://www.ibtimes.co.uk/kim-dotcom-buy-bitcoin-gold-grexit-will-cause-market-crash-1507380

[GreenStox]

http://www.ibtimes.co.uk/kim-dotcom-buy-bitcoin-gold-grexit-will-cause-market-crash-1507380

Yep i`ll also buy some more bitcoin next month after i get my paycheck. The ground below the banks are shifting, i dont want my money to fall into quicksand with them.

No doubt GREXIT will cause Great Depression II.

[deisik]

There has to be some sort of limit otherwise the bank is liable to pay me. I think many banks will get sued that way, but yea by the time the trial ends they will all be bankrupt lol.

Theres no such thing as banks getting sued.

Esp, when they already are the system, and the sueing is probably the government but that really does much besides paying a small fine.

Banks have been successfully sued for imposing similar restrictions. For example, the Russian Alfa Bank in July, 2004, when there was a minor crisis on the interbank crediting market and depositors rushed to withdraw their money from banks, encountered problems as hundreds of its depositors queued to try and withdraw their money. The bank decided to collect a 10% penalty for withdrawals not yet due, though, as it was later discovered, the bank had enough liquidity. It had been sued for doing this, and it had to return the collected amounts back to its depositors (with fines)...

[Zorrocoin]

Greece will pay back their due later.

[JackH]

Latest:

Tsipras wants to avoid spending cuts

IMF wants spending cuts or debt relief

Merkel wants to avoid debt relief

We are getting further and further apart. Another set of talks are breaking down it seems. 6 days left!

[Erdogan]

Greece will pay back their due later.

never

[BillyBobZorton]

Greek banks seem to be imposing unofficial capital controls over deposit withdrawals after having lost €400 million over the weekend. The maximum amount is said to be €3,000 on walk-in withdrawals...

A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official.

http://www.zerohedge.com/news/2015-06-22/greek-banks-unofficially-limit-walk-withdrawals-%E2%82%AC3000-ft-reports

You said walk-in withdrawals. Which sounds as €3,000 each time you literally "walk-in". What does "walk-in" even mean in this context?

It was not me who first said about walk-in withdrawals, I just repeated in my words what I had read at the link I provided. So, I guess, everyone curious should go and read it. I think "walk-in" here means that you visit a bank in person and (try to) withdraw cash as opposed to wire transfers. In this manner, €3,000 obviously refers to the withdrawal limit per day...

Do you happen to live in Greece or ask just out of idle interest?

I don't but I know a guy who lives there. He reported long queues on banks the other day. People hiding money under beds literally lol. He also said no one knows what the hell BTC is, unfortunately. Let's see what they come up next week to keep stretching the unavoidable.

[GreenStox]

Greek banks seem to be imposing unofficial capital controls over deposit withdrawals after having lost €400 million over the weekend. The maximum amount is said to be €3,000 on walk-in withdrawals...

A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official.

http://www.zerohedge.com/news/2015-06-22/greek-banks-unofficially-limit-walk-withdrawals-%E2%82%AC3000-ft-reports

You said walk-in withdrawals. Which sounds as €3,000 each time you literally "walk-in". What does "walk-in" even mean in this context?

It was not me who first said about walk-in withdrawals, I just repeated in my words what I had read at the link I provided. So, I guess, everyone curious should go and read it. I think "walk-in" here means that you visit a bank in person and (try to) withdraw cash as opposed to wire transfers. In this manner, €3,000 obviously refers to the withdrawal limit per day...

Do you happen to live in Greece or ask just out of idle interest?

I don't but I know a guy who lives there. He reported long queues on banks the other day. People hiding money under beds literally lol. He also said no one knows what the hell BTC is, unfortunately. Let's see what they come up next week to keep stretching the unavoidable.

They should organize loudspeakers , mounted on cars, and tell to the people with loudspeakers, going around the city, about bitcoin.

The only way to literally "wake up" the sheeple

Perhaps that money under the bed is not as safe as they thing, there is stil the inflation thief around...

[qiwoman2]

Greek banks seem to be imposing unofficial capital controls over deposit withdrawals after having lost €400 million over the weekend. The maximum amount is said to be €3,000 on walk-in withdrawals...

A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official.

http://www.zerohedge.com/news/2015-06-22/greek-banks-unofficially-limit-walk-withdrawals-%E2%82%AC3000-ft-reports

You said walk-in withdrawals. Which sounds as €3,000 each time you literally "walk-in". What does "walk-in" even mean in this context?

It was not me who first said about walk-in withdrawals, I just repeated in my words what I had read at the link I provided. So, I guess, everyone curious should go and read it. I think "walk-in" here means that you visit a bank in person and (try to) withdraw cash as opposed to wire transfers. In this manner, €3,000 obviously refers to the withdrawal limit per day...

Do you happen to live in Greece or ask just out of idle interest?

I don't but I know a guy who lives there. He reported long queues on banks the other day. People hiding money under beds literally lol. He also said no one knows what the hell BTC is, unfortunately. Let's see what they come up next week to keep stretching the unavoidable.

They should organize loudspeakers , mounted on cars, and tell to the people with loudspeakers, going around the city, about bitcoin.

The only way to literally "wake up" the sheeple

Perhaps that money under the bed is not as safe as they thing, there is stil the inflation thief around...

I totally agree that all those peeps hiding their stash at home are going to be very prone to theft now especially when you see all the news channels and morning breakfast programs showing insider reports on what kind of places they are hiding their cash in..Like tiled draws in the bathroom was one and wooden bits of a bed and chair lol.