Eric King: “The ECB has now shut off direct funds to Greece. The ECB is playing hardball with the Greek negotiators.”
John Hathaway: “This is just a sign that things are spiraling out of control and in a much worse direction than central planners had expected. That’s what spooked the markets late Wednesday. I was amazed to see the Dow give up all of its gains in the space of half an hour….
“There are no contingency plans in the eurozone to deal with the possibility of a Greek default and exit from the euro system.
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