DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Greeks, Spaniards withdraw euros by the billions!

**sEe** · 06-17-2012, 06:46 AM

Link -
http://www.cbsnews.com/8301-500395_1...ctionContent.9
http://www.usnews.com/news/world/art...urozone-crisis

In Europe's most economically stricken countries, people are taking their money out of their banks as a way to protect their savings from the growing financial storm.

Worried that their savings could be devalued, or that banks are on the verge of collapse and that governments cannot make good on deposit insurance, people in Greece, Spain and beyond are withdrawing euros by the billions — behavior that is magnifying their countries' financial stresses.

The money is being hoarded at home or deposited in banks in more stable economies. I'm unsure whether it would be the wisest or most prudent of decisions,to risk my life saving stuffed under my mattress.However I'll definitely wouldn't chance any eurozone government insurance policy,if the banks suddenly busted neither.The Greeks are set to vote on June 17th,will this be the start of a domino effect for the eurozone.

Greek vote could unleash seismic shocks for euro -
http://www.reuters.com/article/2012/...8HFEY320120616

06-17-2012, 06:46 AM	#1
sEe Join Date Oct 2005 Posts 547 Senior Member	Greeks, Spaniards withdraw euros by the billions! Link - http://www.cbsnews.com/8301-500395_1...ctionContent.9 http://www.usnews.com/news/world/art...urozone-crisis In Europe's most economically stricken countries, people are taking their money out of their banks as a way to protect their savings from the growing financial storm. Worried that their savings could be devalued, or that banks are on the verge of collapse and that governments cannot make good on deposit insurance, people in Greece, Spain and beyond are withdrawing euros by the billions — behavior that is magnifying their countries' financial stresses. The money is being hoarded at home or deposited in banks in more stable economies. I'm unsure whether it would be the wisest or most prudent of decisions,to risk my life saving stuffed under my mattress.However I'll definitely wouldn't chance any eurozone government insurance policy,if the banks suddenly busted neither.The Greeks are set to vote on June 17th,will this be the start of a domino effect for the eurozone. Greek vote could unleash seismic shocks for euro - http://www.reuters.com/article/2012/...8HFEY320120616
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