What Running Out Of Money Will Look Like In Greece (And Elsewhere)

Zero Hedge: Greek Pensioners Crash Pension Fund Board Meeting, Form Lines At Bank

On Thursday we noted that no matter how tempting it may be to tune out the almost hourly warnings from various sources claiming Greece is finally set to run out of cash, one can’t just assume the government will yet again find another couch cushion to reach into in order to scrape up a few more euros to pay government employees and creditors and thereby forestall the inevitable for another few weeks. Eventually, there simply will be no more money and the first signs that Greece has entered the final, terminal phase in the long and painful road to complete insolvency showed up last month in the form of a sweeping decree which required municipalities to transfer excess cash to the central bank.

WNU Editor: I witness and experienced the same thing in the early 1990s when the Russian economy/ruble collapsed and the government ran out of money. To put it bluntly .... it is a nightmare.