Greek Crisis Set To Ignite Panic In Markets Around The World

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Greek Crisis Set To Ignite Panic In Markets Around The World

Despite many global markets near all-time highs, today one of the legends in the gold world warned King World News that the Greek crisis will ignite panic in markets across the globe.

Keith Barron: “The Greek crisis is being underplayed by leaders like Cameron and Merkel. Merkel even said, ‘If they want to go, they can go.’ But a Greek exit will cause absolute pandemonium in the banking system and Merkel knows that.

“What’s going to happen to the Greek bonds? Are they going to renege on them?

Fallout Will Be Much More Dangerous

When little Cyprus had their crisis it reverberated all around the world. This is a similar situation but the fallout will be much more dangerous. I’ve been predicting for at least six months on KWN that Greece would leave the euro. Of course if Greece leaves the euro, then the next to go will be the Italians, Spanish and the Portuguese.

One of the problems is that there have been large withdrawals from Greek banks since the beginning of December. The Greeks are afraid of what happened in Cyprus after the bail-in. Everyone in Cyprus with more than 150 thousand euros in the bank actually had their money confiscated….More Here

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Greek Crisis Set To Ignite Panic In Markets Around The World