It looks like it is going to be another hot summer in Europe.  We really should change our logo for the time being. The current liquidity crisis in the southern periphery of the Eurozone continues to spread. There are already quiet electronic bank runs in progress in Greece and Spain. On Monday, a bank “holiday” was announced in Italy. Then, in something we have not seen reported anywhere else, we received contact from a reader, Pierre J., who told us that bank branches are limiting withdrawals now almost everywhere in France.  According to Pierre, they are requesting five days notice to withdraw 2000 euro.

Capital & Travel Controls and Preparing for Chaos in Europe, 6/15/12

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