Posted by: the daily messenger | June 29, 2015

Greece closes all banks for a week; closes stock market, and limits cash withdrawals to 60 EUros…

And this is the effect. Coming to America soon!

As we noted yesterday, in clear rejection of Tsipras’ plea for calm, the Greek population stormed (now empty) ATMs, grocery stores and gas stations as they scrambled to obtain, or convert, paper currency into tangible products.
This morning, the NYT picked up on the realization that for Greece ATM runs were last week’s story. Now, it’s all about the “Supermarket Sweep”… and hoarding. To wit:

Beside the lines at A.T.M.s, people were also lining up at gas stations and in grocery stories. In the small town of Spata, outside Athens, residents had stripped grocery shelves bare by Saturday night. The local Shell station had run out of regular unleaded and had only premium gasoline to sell. “Doom,” the gas attendant responded, when asked to describe the mood.

The frenzy at gas stations across the country prompted Greece’s largest refiner to issue a statement assuring that there would be enough supply…

And this is how Athens is slowly starting to look like Caracas.




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