According to CNBC Greeks have been withdrawing €800m a day from the banks. They are stocking up on pasta and canned goods in anticipation of nothing good coming of the elections slated to be held this Sunday.
Meanwhile in Spain, it is the same thing just in a different language. While the Dutch parliament has voted for a Euro zone deal to lend up to €100bn to Spain it was a close call. Labor MP Ronald Plasterk said: " I want to see pain. It cannot be the case that banks are restructured and people walk out whistling. I want shareholders to bleed, I want a ban on bonuses."
This from Daniel Hannan, who is MEP for South East England.said, "The only impact of this bailout has been to indebt every Spanish household with a further €15,000 that they didn't have last week. Europe is giving itself a transfusion... it's taking blood from one arm and pumping it into the other arm. "
READ THE ENTIRE ARTICLE HERE: http://www2.ljworld.com/weblogs/the-week-that-was/2012/jun/13/zombie-banking/
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