Realistic article… very possble to happen.
Thank you!

Piazza della Carina

May 23, 2012 Information Clearing House As you might have noticed, the stock market is falling like a stone. As of 9 AM PST, the Dow Jones has dropped 172 points while all the other indices are down sharply. German 2-year debt (bund) has dipped below 0% this morning at auction, signalling an acceleration in the bank run taking place in southern Europe. Depositors in Spain, Greece, Italy, Portugal, etc would rather take a loss on their investment, then risk not their money back at all. The European Central Bank (ECB) does not guarantee deposits, so people are withdrawing their money en masse and getting out of Dodge pronto. What we’re seeing is a real-time panic.

The ostensible trigger for the panic is known, but you won’t read about it in the financial media where the news is dumbed down to the point of incoherence. What’s really…

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2 Comments

  1. thank you, Viva Greece !

  2. Failing Greece
    by MIKE WHITNEY

    “Austerity has failed because Greek society has been destroyed, the production base has been dissolved. Our country has been in a deep recession for five consecutive years. This has never happened in Europe in peacetime.”

    –Alexis Tsipras, leader of Greece’s Coalition of the Radical Left (SYRIZA)
    http://www.counterpunch.org/2012/05/23/failing-greece/


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