G-7, EU Banking Officials Hold Emergency Calls Ahead Of Black Monday

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  • G-7, EU Banking Officials Hold Emergency Calls Ahead Of Black Monday
    by Tyler Durden, http://www.zerohedge.com  
    Now that the Greek parliament has given PM Alexis Tsipras’ euro referendum the go ahead (the vote will effectively be a poll on euro membership or, on the choice between sovereignty and servitude if you will, because as the IMF flatly noted on Saturday, the proposal that was supposed to form the basis for the referendum will be null and void by the time Greeks go to the polls) and now that Greeks have pulled another €1 billion plus from the ATMs, capital controls are all but certain early next week, especially now that the ECB has frozen the ELA cap. This means the crisis, to use Irish FinMin MIchael Noonan’s words, “has now commenced” and a “Lehman weekend” is indeed underway. 

    Against this backdrop, multiple “emergency” meetings have been scheduled for Sunday…

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