Piraeus Bank Denies Rumor It Has Run Out Of Cash
UPDATE: *PIRAEUS BANK CFO DENIES SPECULATION OF CASH SHORTAGE
It appears the worst fears of many Greeks may be coming true following a Stratfor report that Piraeus Bank ATMs in downtown Athens appear to have run out of money - telling "customers that there is no cash and the situation will last through the weekend." However, locals, reporting on Twitter, claim this is false. Greek stocks (especially banks) are down hard, as is the EURUSD.
It seeems not everyone is so sure...
Of course, the mere fact that this is possible is likely to spark some fear into The Greek people as they watch their newly elected government 'negotiate' their futures away.
While the Stratfor report may or may not be accurate, the reason why Greek risk is selling off today is that as we reported last night, out of left field Greece decided to lob a grenade across the Troika bow when it threatened that it may "delay" its repayment of one of the seveeral IMF loans due for repayment as soon as one week from today...
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