by John Galt
March 28, 2012 22:25 ET
That cured nation saved from the disaster and end of the world via a Eurozone banking collapse is not back in the international news, but since I’ve been one of the bloggers covering the story for ages now, perhaps a reminder from tonight’s edition of the Athens News is in order:
Banks continue to bleed deposits: ECB
(click on the title to read the story in full)
This excerpt from the story says it all:
Firms and consumers continued to pull their money out of Greek banks at a rapid rate in February, European Central Bank data showed on Wednesday, underscoring the lack of trust the country’s banking system faces.
Private sector deposits in banks fell by 2.7 percent in February after a near 3 percent drop in January, with the total falling to 170.1bn euros, the lowest level since October 2006.
They are now 30 percent below their peak in December 2009.
Of course printing more money will cure this problem in concert with establishing a police state to starve out resistance in Greece. Unfortunately for the banksters, in every nation this has been attempted, it ends in a nationalist revolution and ultimately war.
Happy now Mr. Blankfein?
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