Greek banks down to €500m in cash reserves as economy crashes

Greece is sliding into a full-blown national crisis as the final cash reserves of the banking system evaporate by the hour and swathes of industry start to shut down, precipitating the near disintegration of the ruling coalition.

Business leaders have been locked in talks with the Bank of Greece, pleading for the immediate release of emergency liquidity funds (ELA) to cover food imports and pharmaceutical goods before the tourist sector hits a brick wall.


So the EU says no negotiations until the referendum, which the Greeks say isn’t binding and the courts are challenging so no one knows why they are having it anyway.

To what point other than each side hoping to see the other is punished.

I see dead people.

  • UCSPanther

    Greece: The ride never ends!

    • What a mess.

      • UCSPanther

        Reading of Greece’s history through the second half of the 20th century (WWII and beyond), I would say that instability, unrest and violence is part and parcel of Greek politics.

        • But they lived well!

          • Petrilla

            They lived well on EU money. My favourite story was they all had to retire at 50. On EU money. Mostly hairdressers who had the most dangerous job of all. Dying hair was very dangerous. Greece had no reason to be in the EU, as they will now learn.

      • dance…dancetotheradio

        I see Golden Dawn.

        • Waffle

          I see Ontariariariowe-owe-owe.

  • Lloyd Snauwaert

    The dumb fucks don’t even have enough money to print enough funny money…#Socialism

    • They were so corrupt.

      • Lloyd Snauwaert

        The last time Greece had a balanced budget was 1974…the amazing thing is that they got this far…

  • BillyHW
    • That applies to most of the EU

      • Alain

        And it applies to Canada, our American neighbour and all of the Western world. The only difference is a matter of degree or how far along they are.

    • Martin B

      And there’s not one socialist on the planet who wouldn’t rather hammer nails in his eyes than admit that dear old Maggie was right.

  • ntt1

    they are out of money and out of time, but the leftists are not likely to take the end of the ride gracefully, expect major temper tantrums in the streets and yes, deaths.

    • I see fire.

    • Petrilla

      Have you not seen the old people battling in Athens? Not pretty.

  • Helios Megistos
  • Exile1981

    With them shut off from the european and international banking systems tourists won’t be able to use debit or credit when visiting and no one in greece would accept them if you can’t then remove the cash from your bank account to buy supplies or pay staff.

  • Petrilia

    Didn’t C#nada have a Greek prime minister who hid out after the 70s junta? Greece has a very bad history of no knowing what side it is on. This PM is led by his commie wife who has told him not to give in, This referenum, what a mess, this PM and his commie wife are a joke. These two worked when they were commie ajiataters, but not when he is PM. After 3 kids, she the commie says she will divorce him, not married, if he gives in. That is hot has landed poor old Greece in this yet again Communist hell hole. Do I feel sorry? Nope. Their own stupidity.

    • David Murrell

      George Papandreou, who in the 1970s was chair of York U’s economics department. The word around the economics profession was that he stuffed the department with old-fart socialist cronies that set the department back decades. I went to graduate school at Queens, in economics, in the early 1980s and they refused to accept graduates from York U, given that they lacked any competency.

  • Solo712

    There is no use telling some people they cannot live above their means: I have been telling that to my ex for years. She could not get her head around that. She got divorced and now she happily lives off another fool. Interesting to see if Putin will marry Tsipras’ disaster. My guess is, not. He likes the leverage that Greece gives him.

  • Hard Little Machine

    Sell the whole country to the Arabs.

  • Jabberwokk

    You can’t spend yourself rich.

    You can’t escape the consequences of your action.

    It’s pay day someday and there was nothing to be payed.

  • Waffle

    Can’t help thinking of better times: