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It's 2 In The Morning And Greeks Are Lining Up At ATMs; Alpha Limits Online Banking

Tyler Durden's picture




 

Because correlation does not equal causation, we present the following with no comment other than to note that according to Goldman's estimates (shown below), Alpha Bank, which has announced that web banking will "operate with limited functionality" over the weekend, happens to have the smallest ELA buffer of the four major Greek banks. 

And of course, Greek PM Alexis Tsipras has just called for a referendum on euro membership to be held next Sunday.

Draw your own conclusions.

From Kathimerini:

Notice decreased function of the service Alpha Web Banking for the weekend issued by the bank, tufting scenarios in view of the Eurogroup Saturday.

 

Specifically, the communication states: From Saturday 06.27.2015 at 11:30 am to Monday 29/06/2015 at 8:00 am through the Alpha Web Banking there will be possibilities: Information on the balances and accounts and cards movements. Registration of orders on transfer of funds at a later date (will not be direct transfers executed). Registration of orders on payments dated 29/6 or higher . Enter orders for transfers to other banks dated 30/6 or later. The transfer orders will be registered for Sunday 28/06/2015, will be performed on Monday 29/06/2015.

And meanwhile, at the ATMs (via Protothema):

 

 

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Fri, 06/26/2015 - 20:20 | 6239868 _SILENCER
_SILENCER's picture

You're a goddamn retard if you're keeping money in one of these shit banks, then lining up to beg some machine for your raisins like an ape in a cage.

Fri, 06/26/2015 - 20:31 | 6239894 Kaiser Sousa
Kaiser Sousa's picture

why u gotta talk bad about Grape Ape man???

Fri, 06/26/2015 - 20:31 | 6239893 Evil Bugeyes
Evil Bugeyes's picture

It's 2am. Do you know where your euros are?

Fri, 06/26/2015 - 20:33 | 6239900 mijev
mijev's picture

Deutchland uber Alex.

Fri, 06/26/2015 - 20:35 | 6239908 Uber Vandal
Uber Vandal's picture

This is not a proper run on the banks / ATM comment section until someone points out that the temperature in Greece is XX C, is actually XX hr when the images were taken or were stock photos from another time, someone in the photo is dressed inappropriately for the time and temperature of the year, thus totally negating the whole article. <sarc>

 

Fri, 06/26/2015 - 20:39 | 6239922 pilager
pilager's picture

Greek version of a run on bank. Remember, it's Greece.

Here, every corner would look like Baltimore

Fri, 06/26/2015 - 21:10 | 6240017 umdesch4
umdesch4's picture

Well, hopefully somebody will point out that this was 2 hours after all these people got paid by direct deposit into their bank accounts (apparently getting paid at the end of the last Friday of the month is a common thing over there), and they're just rationally doing the prudent thing and pulling it all out ASAP, like they've probably been doing every payday for months or even years now.

Fri, 06/26/2015 - 20:47 | 6239955 thamnosma
thamnosma's picture

These are just late night party goers needing some cash to continue drinking.

Fri, 06/26/2015 - 20:51 | 6239967 Soul Glow
Soul Glow's picture

So if people are waiting to withdraw a couple grand I expect the big money flew the coup already.  Cyprus part deux.

Fri, 06/26/2015 - 20:54 | 6239977 me or you
me or you's picture

 

Who the hell still keep money in banks eaither Greece or anywhere else?

Sat, 06/27/2015 - 04:20 | 6240691 hendrik1730
hendrik1730's picture

Good question. Everyone with an IQ below 80 or so, I would guess.

Fri, 06/26/2015 - 21:02 | 6240002 JLM
JLM's picture

Nolan is laughing her head off right about now.

Fri, 06/26/2015 - 21:11 | 6240027 Al Tinfoil
Al Tinfoil's picture

I'm waiting for the armoured vans to start shuttling from the Greek currency-printers to the Greek banks, stuffed with locally-printed Euros, and the ensuing screams of outrage from Frankfurt and Brussels.

Fri, 06/26/2015 - 21:33 | 6240082 directaction
directaction's picture

In the USA if you pull an average of $28 a day in cash from your bank the Treasury Department gets a jingle. I wonder if the Greek government does that?

Fri, 06/26/2015 - 21:43 | 6240110 q99x2
q99x2's picture

Bitcoin last price: $243.74

Fri, 06/26/2015 - 23:22 | 6240376 mijev
mijev's picture

i wonder if greece should use its $3B remaining fiat to buy bitcoins. That would probably double the bitcon market and the price of bitcoins. The future of cash is almost certainly in cryptocurrencies so why go back to the drachma?

Fri, 06/26/2015 - 21:45 | 6240117 ThrowAwayYourTV
ThrowAwayYourTV's picture

Why pay these Aholes at all? They are a bunch of Gansters.

Everyone screaming about "Pay your bills." Pay who? for what?

Useless paper so some guy can live in a mansion why everyone works their ass off  to pay for him to live in a mansion for nothing. LOL!

You brains are fu*&^ked up if you think that you should work your ass of for someone who does nothing and lives like a king.

 

Fri, 06/26/2015 - 21:54 | 6240142 gwar5
gwar5's picture

Maria Bartiromopolous: "It's 2 am in Greece, do you know where your money is?"

Fri, 06/26/2015 - 22:27 | 6240212 exartizo
exartizo's picture

So... the sad thing to me is that there is really *no chance* of a "referendum" going any other way but a "vote" to stay in the EU.

Greece is so very sadly terminally addicted to the bailouts, and the EU knows that.

The Truth is that it wouldn't be any different in the good ole' USA either.

Terminal Addiction to Cocaine, sorry, Free Money is not a uniquely Greek Achilles Heel.

BUT, I do have to hand it to you Mr. Tsipras, you did TRY.

....Coming to an American city near you.

Sat, 06/27/2015 - 00:28 | 6240486 Md4
Md4's picture

Hope you're wrong about that, because these folks have nothing positive to look forward to by remaining in the EU, being endlessly beaten up by the troika. That's no solution, and it'll end badly.

However, the referendum's question is being reported two different ways: on this deal offered today, and...EU membership.

Two very different questions.

m

Fri, 06/26/2015 - 22:21 | 6240220 ms8173
ms8173's picture

Who and the Hell would wait until today to line up at the ATM machine?  Goes to show how stupid these Greeks are!!!!

Sat, 06/27/2015 - 04:15 | 6240689 hendrik1730
hendrik1730's picture

Just wait a couple (?) of years, our turn is about to come. And rest assured : 99+% of the sheeple will NEVER understand how corrupt the banking Ponzi scheme is. Otherwise, there would have been a massive uprising yet.

Fri, 06/26/2015 - 22:24 | 6240225 MollyHacker
MollyHacker's picture

My take on the late night in Athens is they're already voting.

Fri, 06/26/2015 - 22:39 | 6240263 Sandmann
Sandmann's picture

ATM must be the biggest fraud the fractional banking system ever produced

Fri, 06/26/2015 - 22:52 | 6240301 Jackson B. Nimble
Jackson B. Nimble's picture

It is hard to believe that anyone in Greece has a cent in the bank.  Can't they read (of course it is all greek to me), can't they think, obviously they can't see.  It will be the same thing here in the capital of "spend everything and hope".  I will just have to laugh when they show the american ATM's running out of cash on a Friday evening when the regime annonces that the banks will be closed for a few days until they can determine which one's are solvent and which ones will have to be bailed in.  If you lose everything in the bank crash, you are an idiot and deserve what you will get in the end.  (Pun intended)

Sat, 06/27/2015 - 01:03 | 6240468 NoBillsOfCredit
NoBillsOfCredit's picture

Federal reserve notes are NOT cash!

Fri, 06/26/2015 - 23:11 | 6240353 DIgnified
DIgnified's picture

Can we just get this catastrophe over with please?  Everyone - except the people who think inanimate objects, smells and cartoon characters can be genders - knows there is no way out of this.  Just pull the plug already. 

Fri, 06/26/2015 - 23:45 | 6240423 robertocarlos
robertocarlos's picture

Felix the cat was a male.

Sat, 06/27/2015 - 03:29 | 6240656 DIgnified
DIgnified's picture

Fritz was a gay gray cat that wanted vitiligo and HIV. 

Fri, 06/26/2015 - 23:14 | 6240356 Md4
Md4's picture

Tomorrow, it'll be worse...

Greece, stick to YOUR future, NOT the troika's.

They don't give a damn about you.

m

Fri, 06/26/2015 - 23:18 | 6240366 pocomotion
pocomotion's picture

You people have no inkling on what it takes to make money and carry it downstream to prosperity.  There is a gauge for people like yourselves.  You would be considered morons in any human form.  Lemon-aid stands excluded..,

Fri, 06/26/2015 - 23:42 | 6240416 robertocarlos
robertocarlos's picture

Scotiabank did the same as Alpha Bank last weekend and I panicked and removed even more money than usual. Turned out to be a legit malfunction and withdrawal limits were returned to normal the next business day.

Sat, 06/27/2015 - 01:02 | 6240436 NoBillsOfCredit
NoBillsOfCredit's picture

What you obviously don't understand is that paper script promises of nothing is NOT MONEY!

Sat, 06/27/2015 - 04:57 | 6240700 conscious being
conscious being's picture

Roberto, they are testing to improve the algorythm. They suffer already from sloppy work in Oklahoma, NY and Boston.

Sat, 06/27/2015 - 04:58 | 6240704 conscious being
conscious being's picture

 

Dupe

Sat, 06/27/2015 - 15:02 | 6241988 Village-idiot
Village-idiot's picture

Just testing!

Just testing!

Fri, 06/26/2015 - 23:44 | 6240417 robertocarlos
robertocarlos's picture

I hit "enter" only once.

Fri, 06/26/2015 - 23:47 | 6240425 robertocarlos
robertocarlos's picture

Jesus, they have no oil or money but they drive to the ATM. They are screwed. 

Fri, 06/26/2015 - 23:55 | 6240434 Troy Ounce
Troy Ounce's picture

 

So, Krugman. Does debt matter or what?

 

 

Sat, 06/27/2015 - 14:59 | 6241979 Village-idiot
Village-idiot's picture

He doesn't hear you; he's down in his basement counting his gold and silver coins.

Sat, 06/27/2015 - 00:13 | 6240470 Badsamm
Badsamm's picture

I bought silver today and took cash out of BofA.
Burn this bitch down!!!

Sat, 06/27/2015 - 10:09 | 6241031 markar
markar's picture

You still bank at B of A?

Sat, 06/27/2015 - 01:10 | 6240528 The 22nd Prime
The 22nd Prime's picture

Bone up, fishez! It's easy to turn off the robots.

I remember pre ATMs and I thought they were a miracle when they first came out. Sure beat the shit out of making to the bank in time. Especially when I needed an 8 ball at two am because some hottie at Biscayne Babies wanted drop her panites. Ah, Miami in the 70s and 80s pre AIDS. But I digress...

I admit, I swipe the debit or credit card for gas and sundries and it absolutely sucks balls to use cash at times. Cash at tolls? No freaking way.

On the other hand cash is only thing accepted during any power event. I've been blasted by enought hurricanes to know what collapse really is, temporary though that may be. Herc Andrew crushed the shit out of us. Temporary was an 18 month process with many things never to return. Cash was king and if you weren't armed you were a target. "Looters Get Shot" was spray painted everywhere and you gracefully approached propeties where you saw that. It gets basic rather quickly when the lights got out and there ain't much gas, food or ice.

But this time IS different. The lights will still be on. And there is the nice shiny splash screen on an ATM saying "NO CASH. TAKE YOUR SOMA."

If you're in that line then you are still in the "Fool me once" crowd.

 

 

 

Sat, 06/27/2015 - 08:29 | 6240850 pops
pops's picture

Yep.  Good times.  Got myself thrown out of the Pink Pussycat.

I'd do it all again.

 

Sat, 06/27/2015 - 03:29 | 6240657 Aggathopos
Aggathopos's picture

Your source: protothema.gr
You might as well have put up pictures of the Golden Dawn website

Sat, 06/27/2015 - 03:47 | 6240675 Freedumb
Freedumb's picture

Please fucking collapse already, it seems like nearly the entire world is caught up in this sick form of Stockholm Syndrome, perversely hoping there won't be a collapse, when the collapse is the only way most of us can be freed from the parasitic ruling class that is turning us into a feudal society

Sat, 06/27/2015 - 04:27 | 6240692 macroeconomist
macroeconomist's picture

Where are all those conspiracy theorists who have been claiming that Tsipras and Syriza is another banker game, that they are bought by the bankers like all politicians, that they will sign it and sell their country?

WHERE THE FUCK ARE YOU SHAMELESS BASTARDS? 

You owe Syriza and Tsipras a big apology. 

Sat, 06/27/2015 - 04:46 | 6240701 Senduko
Senduko's picture

Lets just wait and see shall we? 

http://i.imgur.com/8JxJzN3.jpg  nope no conspiracy here. 

I hope you realise by now every voting system is rigged. Even this referendum, if it work in favor of greece you can bet your ass its by design. 

Sat, 06/27/2015 - 04:59 | 6240711 macroeconomist
macroeconomist's picture

I agree with let's wait and see Senduko, and I know the EU will do everything to get a result in their favour, capital controls will come on Monday to make things worse for the following week.

But unfortunately, those pictures mean nothing. Unless you expect these people to spit at each other's face in front of cameras, these are normal "human" moments.  

I have told many many times here that we know people in Syriza, and although you may not agree with these people on their economic policies, they are genuinely good people who care about their people and will NEVER sign a deal that goes against their beliefs. More that 70% of Syrza MPs are in the parliament for the first time, and they are normal people (not politicians from family)

But a retarded crowd here on ZH have once again claimed that Syriza is a sell-out and all this is a show, without having a clue about SYriza and Greece. My reaction is to that.

Sat, 06/27/2015 - 05:09 | 6240721 Senduko
Senduko's picture

I hear ya, i'm a socialist at heart so I wish Syriza would shake the foundation of the current fascist regime. 
However I have seen it too many times before so I remain skeptical. And lets not forget that the Troila/institution/tptb wouldn't jeporideze the future of the empire by pure chance.

But again lets wait and see shall we ;) 

Sat, 06/27/2015 - 05:24 | 6240734 macroeconomist
macroeconomist's picture

Yep, let's wait and see.

Tsipras's speech on TV almost openly says "vote no" to the bailout.

https://www.jacobinmag.com/2015/06/tsipras-speech-referendum-bailout-tro...

If even Syriza's moderates have been pushed to this point, I think the outcome will be a big no. 

I hope...

Sat, 06/27/2015 - 04:50 | 6240705 Obama LaForge
Obama LaForge's picture

Somewhat unrelated post, which I posted on Facebook, to all my California friends and relatives... Although I think it's very related in the big picture. I also posted it to Breitbart and Huffington Post. I should be a pariah in short order. Ahh well, I'm moving to China anyways. What could go wrong? As if there's any escape. I'm mostly just concerned with the next life, rather than this one. I'm not entirely sure being alive in the coming decade is a smart move. Okay, here it is:

 

In light of gay marriage equality day, I want to say congratulations to everyone who is happy. I'm glad there is happiness in the land. However, you know how I love to be the devil's advocate. Muahahaha. Funny that, even 30 years ago, I would have been called the angel's advocate, but anyhow...

The stock market is about to crash. California has one year until it runs out of water. What happened to the Anasazi civilization, I believe will happen to Californian civilization and western civilization at large. This is the main reason I don't live there any more. Gay marriage has been legalized in the United States. For almost 1,600 years, gay marriage has been almost universally illegal in the west. But as of 3 or 4 years ago, we've all come to the consensus that the entire population of the Earth for all that time were all heinous bigots and homophobes, and we would probably send them online death threats if they were alive today and expressed their opinions on the subject.

I believe in equality, I believe in fairness, and yet I am pretty confident civilization is going to collapse, right at the same time that gay marriage is legalized. I am reminded of the story of Lot and Sodom and Gomorrah in the Bible. It is a very very very strange coincidence that it seems history is repeating itself, if you even believe there's a modicum of truth or historicity in the Old Testament (which there is, although obviously with many magical elements thrown in).

It is true that in the decline phase of civilizations, there are symptoms of that decline. One symptom is the growth of tolerance of non-normative sexuality and a permissiveness about sexuality in general. I think you could say Ancient Greek and Roman civilization could be exceptions to this rule, and so I would grant this throws a gear into my thesis here. Although, if you talk about Hellenic society vs. Hellenistic society, and Roman republic vs. Roman empire, I think you would admit the trend toward tolerance is clear. Roman orgies, etc. If you're interested in reading more, check out works by Toynbee, Spengler, and Sorokin.

For example, the Roman emperor Nero (who allegedly fiddled while Rome burned) was gay married twice, once as a woman, once as a man. This was during the long, slow-rolling fall of the Roman empire. Coincidence? Perhaps.

So in this decline phase, permissiveness rules. This is perhaps unavoidable, because as economic progress is impossible, the people, unhappy, and yet generally accustomed to prosperity, try other things to achieve happiness. Also, it could be a function of overpopulation. The land can no longer support as many people, and so birth rates must necessarily diminish to more sustainable levels. So this could be a natural adaptation to new situations. It could be a form of nature's sustainability.

So I believe that, while non-normative lifestyles are not 'sins' or 'bad,' they're widespread acceptance is actually a bad omen, and that it's a good idea to head for the hills, as Lot did. Subsequently, in the story of Lot, his wife mysteriously died, and he slept with both of his daughters in a cave, inbreeding with them. I was surprised by that part! I had never heard about the incest! I mean, talk about deviant lifestyles... Any who, I'll probably be cast out as a pariah for saying such things, but at this point, I'd rather have an interesting discussion than be accepted by society. Being the gadfly, like Socrates, interests me. I am pretty sure what's going to happen, and I'd rather speak what's on my mind and explore the forgotten philosophies in history than follow the crowd. Despite what we've all been drilled into us by our government-employed teachers, I believe there is an ancient wisdom to be found in the ancient texts, and that it would be a shame if thousands of years of accumulated wisdom were just thrown into the fire.

By the way, as evidence that specifically Christian civilization is in decline, and has been since the French Revolution, take as evidence your, and probably most of the peoples that you know's probable reaction to this piece of writing. The orthodoxy is just not there any more, and perhaps because the ideology just isn't workable in our modern daily lives.

Sincerely,
Jason Stuermer Roberts

PS: As an aside, Jesus did not hate gays. He loved everyone. 'Love the sinner and hate the sin.' 'Let he who is without sin cast the first stone.' etc. etc. etc. I do as well. Many of my friends are gay, and I want them to be happy the way they are. While it's not scientifically established why some peoples of the world are gay and some aren't, I believe that they should be happy and free. https://fbstatic-a.akamaihd.net/rsrc.php/v2/yx/r/pimRBh7B6ER.png); background-size: auto; display: inline-block; height: 16px; width: 16px; background-position: 0px -170px; background-repeat: no-repeat no-repeat;">grin emoticon

PSS: I know I'm a Debbie Downer, Chicken Little-type dude that's always raining on everyone's parade. Sorry, I can't help but be the way I am. I'm sure there are some people out there who can identify with that? 

 

https://fbstatic-a.akamaihd.net/rsrc.php/v2/yx/r/pimRBh7B6ER.png); background-size: auto; display: inline-block; height: 16px; width: 16px; background-position: 0px -442px; background-repeat: no-repeat no-repeat;">SPecial note towink emotico

Sat, 06/27/2015 - 04:53 | 6240710 Dre4dwolf
Dre4dwolf's picture
So Long, and Thanks for All the Fish
Sat, 06/27/2015 - 06:11 | 6240754 Wrascaly Wabbit
Wrascaly Wabbit's picture

Does the expression "Up shit's creek, in a barbed wire canoe" ring a bell. 

Sat, 06/27/2015 - 06:16 | 6240757 agstacks
agstacks's picture

Yeah, maybe NOW is a good time to panic. SMH.

Sat, 06/27/2015 - 06:36 | 6240774 BurningBetty
BurningBetty's picture

This is the moment where the Greeks need to stand united as never before. 

Sat, 06/27/2015 - 06:48 | 6240779 Michail Barmpas
Michail Barmpas's picture

Yesterday, on the eve of 26th of June 2015, our country, Greece was given a deadline of 12 hours by the IMF, ECB, and EC to decide on whether to agree to the full domination of the Greek Republic, or else to be thrown out of the Euro and the EU, default and perish, but even if a 12 day or 12 week or 12 year were given, the Greek response would have been the same. The Greeks taught dignity and respect to democracy throughout the centuries. Today, when the entire world has turned against us for not giving up our freedom, we dare to question the invincibility of the Money-markets and those who are behind them and rule the world to their sole benefit raising against them the proud spirit of freedom in the most profound and legal manner through a defined and proper referendum as per the Word of our Constitution and approved by our parliament through majority vote. Regardless of who owes money to whom, as not paying back debts is a Judicial Issue to be judged by the appropriate legal Court, the dramatic question of the Referendum will be either to say YES and give in and surrender the Republic and the Constitution to the IMF, ECB, and EC, or to say NO, to default, and to leave the Euro and the EU completely on immediate basis. The Referendum is to be executed on the 5th of July 2015. This because as per Article 1 of the Greek Constitution, "In the case of an ultimatum or deadline that threatens to dissolve Democracy and the Constitution, the decision lies SOLELY with the will of the citizens by means of majority vote" (Hellenic Republic Constitution, Article 1, Clause 1). You may wish to blame the Greek people for not giving in to the IMF, ECB, and EC wishes, but I kindly request all of you to support us for defending our Constitution, Democracy and the Republic, at the same time taking full accountability for the outcome of the July 5th, 2015 referendum. Whatever this outcome comes to be it will be in full accord to the Word of the Constitution. Many thanks to everyone. Wishing a good day to all of you.

Sat, 06/27/2015 - 08:49 | 6240871 Oldwood
Oldwood's picture

I wish the best to your country, and have no personal knowledge of it, but if Greeks are like the rest of the world, I fully expect the majority to capitulate to the EU. History of late has shown all too often that when given the choice of personal freedom AND responsibility versus promises of an easier path through the surrender of those same things, they will choose the latter. Never forget that we end up where we are because of OUR choices, and they almost always represent the easiest, most gratuitous path available. As an American I feel completely confident in saying that about us as I do the rest of the world. Unfortunately we all seem to respond to whomever does the best marketing job on us, and selling is always about the best deal, getting as close as possible to something for nothing. Maybe Greeks have a stiffer spine but it is hard to see given your current circumstances.

Good luck.

Sat, 06/27/2015 - 14:28 | 6241886 Alexandre Stavisky
Alexandre Stavisky's picture

Greeks gave up their freedom when they stopped protecting any domestic industries, played the social welfare-mixed economy experiment, undertook dangerous personal and governmental debt sums, and relied on palliatives instead of hard work toward reviving their economy.  They will see what remedies are available to extinguish or restructure their mismanagement as they will be unable to emerge without savage interest rates placed upon them should they attempt any future borrowing.  You can imagine the hard choices once they are evicted from the EU largesse and must manage on their own steam.  If they think the austerity just experienced was awful, what do they suppose they will have to endure?

All coming soon throughout the world.  Abandon prudence and thrift, open the door to the devil.  Sow the wind, reap the whirlwind.  Crushing karmic justice without any mercy or redemptive hopes.

Sat, 06/27/2015 - 07:00 | 6240784 localizer
localizer's picture

No winter coats this time around - that's good progress!

Sat, 06/27/2015 - 07:51 | 6240816 Lea
Lea's picture

Come. On.

Who believes in a bank run that lasts for weeks?

Ever seen a real bank run?

Don't you see that is staged, prolly by the same dudes who tried to sell the idea of a "pro-EU" demo last week in Athens?

Sat, 06/27/2015 - 08:00 | 6240826 p00k1e
p00k1e's picture

Exactly.

Everyone I know would E-Transfer to the next bank. 

Sat, 06/27/2015 - 07:57 | 6240821 cwsuisse
cwsuisse's picture

The clueless mouthpiece of the German government, the NSA - defending newspaper "Die WELT" is vomiting following Tsipra's announcement to call a referendum. The paper is full of accusations and insults against the Greek government. Obviously someone in Athens pulled the right string.

Sat, 06/27/2015 - 10:53 | 6241190 Chuck Knoblauch
Chuck Knoblauch's picture

Looks like a bank run to me.

That could never happen in America. (sarc.)

Sat, 06/27/2015 - 12:05 | 6241451 globalintelhub
globalintelhub's picture

it's only relevant if you have assets to protect!  In which case, hopefully, you have done so!

Do NOT follow this link or you will be banned from the site!