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BANK RUN Hits Greece

15 May

Stocks faded in the final hour of trading Tuesday to finish lower after a transcript from the Greek meeting showed deposits leaving the banking system, fueling speculation that the nation might leave the euro zone.

The S&P 500 closed at 3-month lows, while the Dow logged its ninth loss in the last 10 sessions.

According to the transcript, Greek depositors recently withdrew 700 million euros from the nation’s local banks, said President Karolos Papoulias, though the exact timing of the transfer was unclear.”

Not Surprise, since the Greeks voted for socialism.

With MANY THANKS To Both CNBC And Jee Yeon Park. Read More Here:“Stocks Post Loss On Greece, S&P At 3 Month Low”

 

Flag of Greece adopted by the Colonels' Regime...

Flag of Greece adopted by the Colonels’ Regime (1967-1974) in 1970. It remained in use until 1975. It featured a darker shade of blue (midnight blue), and an unusual ratio of 7:12. (Photo credit: Wikipedia)

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