‘Grexit’: Are Greece’s euro fears causing a $1-billion bank run?

May 17, 2012 | Source: LA Times

(Credit: Soctech/Flickr)

Greek officials are cobbling together an emergency plan after talks to form a coalition government disintegrated Tuesday. In the meantime, Greeks have withdrawn $900 million from local banks.

With Greece in deep political turmoil (some are even talking apocalyptically of civil war) after voters backed an incoherent constellation of anti-austerity parties, European central bankers and finance ministers have been warning it that its departure from the euro is inevitable if it does not abide by the terms of its bail-out.

Also see:

Groping towards Grexit
The Bank Runs In Greece Will Soon Be Followed By Bank Runs In Other European Nations
Nationalized Spanish Bank Plummets On News Of Bank Run