Near Bankrupt Italian Bank Freezes 30,000 Customer Accounts

Near Bankrupt Italian Bank Freezes 30,000 Customer Accounts

Nearly one week after Italy’s BNI froze their customer’s accounts an Italian news source finally confirms that the accounts of thirty thousand customers have been frozen.

Nearly a week ago news started spreading on the internet through blogs and online discussion forums that Italy’s BNI had froze their customer’s accounts citing a difficult financial situation.
They have also posted a video report of the customer account freezings.

As the bank runs in Greece have now grown to $1 billion a day the BBC is now asking if it is game over for Greece and warning that every bank account in Greece may face being frozen just like the accounts of BNI customers.

It is not just the Greeks who need to worry because European officials have announced they are planning Europe wide bank withdrawal restrictions to deal with the Greece crisis.

As Greece heads into the elections this weekend’s the candidate ahead in the polls has vowed to reject Greece’s current bailout package, calling it predatory and unfair.

Such a rejection would lead to the nation, that already can’t afford to even keep electricity running, to be forced out of the Euro.

Due to the expected chaos that is expected to occur this weekend some companies have announced they foresee a major market event and will be suspending currency trading accounts of investors.

While the excuse is they don’t want their customers to be subject to the trading risks of the extreme volatility that is expected to occur during the election, the truth is if the EURO start sinking they don’t want retail investors to dump their positions and add to the crash.

Categories: ECONOMY

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