Earlier, the ECB committed to not cutting the ELA funds to the Greek banks. But this has turned out to be a fluke as most of those in the Troika are hell bent on toppling the Tsipras government in much the same way as they imposed sanctions on Russia to topple Vladimir Putin.
Stock markets worldwide are plunging just by the virtue of the Greeks’ unwillingness to bite the austerity bullet once more as imposed upon them by the Troika Vulture Funds.
The collapse of the Greek economy is fast approaching.
There’s a very high probability that it won’t be able to pay $1.8 billion owed to the IMF this month.
Both Tsipras and Putin are said to be talking about the options in dealing with inevitable possibility of a “Grexit”.
The local banking industry is already heating up from massive withdrawals.
It’s still the first month of 2015, and yet the Greece Central Bank is already tapping its last resort Emergency Liquidity Assistance [ELA], the same option it used back in 2011 when Greece’s economy was imploding.
We ain’t seeing nothing yet…