Quote:
Originally Posted by nomadking
It's not head in the sand. It just means that it doesn't only point one way. It is that people would have continued to behave as if the ATMs would be closed in the future. They would continue to take money out. Withdrawing money from ATMs hardly comes under capital flight. How much can they take out at one time? People still need cash to pay for everyday things.
It could mean that something is happening, but on the other hand they would not give any warning of it. Eg Any printing of a new replacement currency would be done in secret for 2 weeks beforehand.
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ATMs will be closed on Monday. It is rumored to be limited to 100 Euros per person including credit cards, when and if they open on Tuesday
No new business transactions.
Limits on money transfers internal and abroad.
The new currency is allegedly ready in Canada/Switzerland, rumored to be called Ovolos,
an ancient currency predating the Athenian drachma.
http://www.bloomberg.com/news/articl...nt-greek-notes
http://www.theglobeandmail.com/globe...ticle24463037/