from Zero Hedge:
The writing has been on the wall for quite sometime.
Deposit flight from Greece’s ailing banking sector has been running north of €500 million per day this week as the threat of capital controls casts a pall over the Greek government’s efforts to reassure the public and head off a terminal bank run.
Sparking a panic has been the most powerful tool at the troika’s disposal to bring PM Alexis Tsipras to the negotiating table and forcing Syriza to either concede to pension cuts and a VAT hike or risk social and political upheaval in the face of dark ATMs and public protests – we said this first in February and finally even the Greek government realized just what game Europe is playing.
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