French banks panic - banks running out of euros ? Note how the talk has moved beyond Spain and whether Italy will need a bailout - to now France is entering that conversation. And on the subject of French , note anecdotal evidence that their banks are limiting withdrawals - have capital controls come to France ? And we see , once again , is Germany doing everything in its power to provke a SYRIZA reactionary vote ( not against but for SYRIZA ) ?

http://maxkeiser.com/2012/06/16/mr-x-gets-a-scare-his-bank-in-france-looks-about-to-declare-a-holiday/

Mr. X gets a scare; his bank in France looks about to declare a holiday

Posted on June 16, 2012 by maxkeiser| 4 Comments

Max

Banque Postal is in in very bad position (Dexia accounts)
i received this and this friday and saturday

The mail says that my reader went to the bank in the morning and asked 250 euros
the lady answered “i am sorry, i just have 180 euros”…
The guy understood that his account had only 180 euros so he asked again : – )
she explained that she only had 500 euros to open her desk and 180 left !!!
The reader made 3 Banks Postale before getting his money.

The picture below (taken by an another reader on friday in Maison-Alfort, parisian suburb)
shows another Banque Postale saying that there will be no cash transaction on friday
from 8h to 14h30 !

Other friends are reporting to me that (whatever bank) they are not able to do wires
due to “computer technical problems blabla”) !

something big and dangerous is going on here in France with Bank Postale one
of the most important banks of the country
=======
Ce mail est affecté d’une étoile. Samedi 16 juin 2012 9h55
Bonjour M. X

Encore un signe que tout va mal et rien ne s’arrange.Vendredi matin, 30 min après l’ouverture je me rends au bureau de poste près de chez moi

(proche banlieue parisienne pas le fin fond d’une campagne), je souhaite retiré 250€.
Là la guichetière me regarde d’un air honteux et me dit timidement “je suis désolé Monsieur, je n’ai que 180€ dans ma caisse!”
J’ai cru qu’elle me disait que mon compte avait un solde de 180€ …… Mais non elle n’avait que 180€ dans
sa caisse et apparemment elle n’avait que 500€ pour ouvrir le bureau.
Elle m’a dit ” Je sens que les clients vont m’en mettre plein la figure aujourd’hui, je suis obligé de les
renvoyer vers un autre bureau ou vers des guichets automatique!”

Bref une fois de plus ça sent mauvais , mais vraiment mauvais

180€ de fond de caisse pour un établissement bancaire, même un vendeur de canettes
à la sauvette a beaucoup plus en caisse !!!!!!!

P.S: j’ai du faire 3 guichet pour avoir mon argent

Cordialement
Abdelhakim

and....

http://ml-implode.com/viewnews/2012-06-16_EuroWideRetailBankingPanicBeginning.html

2012-06-16 — ml-implode.com

From friend David M., word from a European contact of his, on 6/16:

I have friends everywhere between London and Paris, and they are panicking, savings accounts have been getting emptied at a dramatic rate, we should see panic next week because they are being told what they can have and what they can;t have,

Its not that long ago that they changed the ATM machines, so instead of having a choice of withdrawal from 20-500 on the screen, you can now on [sic] have from 10-50.

*  *  *    

http://www.theospark.net/2012/06/french-letters-for-eurofrom-rico.html

FRIDAY, 15 JUNE 2012

French letters for the EUro?................from Rico

This just in, hot on the heels of the OANDA Forex 'freeze' for this coming Sunday's Greek elections redux.

We ALL know about the bank runs currently in progress in Greece and Spain, and also about the 'bank holiday' announced in Italy Monday.

Bet you haven't heard THIS reported yet!
- This smacks of ...for progressives ["all your money are belong to us!"] ... and for the rest of us non-Keynesians [capital controls].

Bank branches in France are now limiting withdrawals almost nation-wide, requiring 5-days notice to withdraw 2,000 EUro. [pic 1]
- For context: The norm was 48 hours notice to withdraw 1,500 EUro before this.

Some banks have imposed a 500 EUro limit. [pic 2]

Looks like the Froggies have their 'wind' up, and their knickers in a twist!

http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_15/06/2012_447261

Uproar over FT Deutschland giving election tips

Greek parties reacted with outrage on Friday after the German edition of the Financial Times made a front-page call on Greeks to vote for the New Democracy conservatives in the upcoming election.
”Dear Greeks, create clear political conditions. Vote courageously for reforms instead of angrily against the necessary, painful structural changes,” read the Financial Times Deutschland’s editorial, published in Greek and German.
”Your country will only be able to keep the euro with parties that accept the conditions of the international creditors,” the daily said, adding: ”Resist the demagoguery of Alexis Tsipras and his (radical-left party) SYRIZA.” It endorsed the New Democracy party led by 61-year-old Antonis Samaras.
SYRIZA condemned the editorial as ”a crude and unprecedented intervention, which offends national dignity and tries to undermine democracy.” The only thing left now is for German Chancellor Angela Merkel to ”come and hand out ballots for the right,” said top SYRIZA official Dimitris Papadimoulis.
New Democracy too was careful to dismiss the endorsement from a newspaper in a country that is widely reviled in Greece as it is seen as the main force behind a raft of painful austerity measures imposed in recent years.
”We are a proud people,” New Democracy’s spokesman said. ”We do not want orders. We do not want provocation and manipulation.” Socialist Anna Diamantopoulou said it showed ”political tactlessness” and accused unspecified groups in Germany of pressuring Greece to leave the euro.
In Sunday’s election, the second in six weeks, all the top candidates are calling for varying degrees of renegotiation of the country’s bailout deal which has provided aid in exchange for a gruelling austerity program.
The poll will be watched around the world amid concern over the shockwaves that a Greek euro exit would send through the global economy and will play into talks by European leaders divided on how to resolve the debt crisis.
Meanwhile German Chancellor Angela Merkel had no tips for Greek voters.

”The chancellor does not give voting advice to neighboring and friendly countries,” he spokesman Steffen Seibert told a regular briefing. Asked about Merkel’s vocal support for then French president Nicolas Sarkozy during elections in April and May, Seibert insisted she had not meddled in the democratic process. ”She said that due to the very good working relationship with Mr Sarkozy and solidarity within the family of conservatives in Europe, she would support the re-election of Mr Sarkozy -- it is very different,” he said. ”The federal government is ready to work with any government that comes out of an election in a partner country.” At the government briefing, German finance ministry spokesman Martin Kotthaus said that the question about voting recommendations put by a reporter presupposed ”a strange antagonism” between Germany and Greece. ”This is not a football match we are playing, it is about a European process,” he said. ”After the (Greek) election, the government that forms will be talking to all the European institutions... the troika, the Eurogroup and others. In this European process, Germany is just one voice among 17.” Asked about the payment of the next tranche of aid to stricken Greece, Kotthaus said there were still a number of hurdles to clear. ”First there are the elections in Greece, then the formation of government capable of taking action -- that is what we are all hoping -- after that the evaluation of the situation by the troika, then the payment of the next tranche,” he said. The troika, comprised of the European Commission, the International Monetary Fund and the European Central Bank, is overseeing the rescue for Greece as it struggles with its debt mountain. [AFP] and...... http://www.athensnews.gr/portal/1/56333 Press Watch, June 15 by George Gilson 15 Jun 2012 The outrageous editorial in Financial Times Deutschland captured broad TV and radio attention, though it did not make it into the Greek press since it was published today. Expressing Berlin’s neoliberal, monetarist position, the paper admonished Greeks to “Resist the demagoguery of Alexis Tsipras and Syriza”. “Only with the parties that accept the terms of international creditors will your country be able to remain in the euro,” the paper declared. It advised Greeks to vote for New Democracy leader Antonis Samaras, who just happens to be German Chancellor Angela Merkel’s fellow conservative. While admitting that ND for decades had wrong-headed policies and is co-responsible for today’s misery, it declared that: “The best solution for your country is a coalition government headed by Samaras.” The editorial caused an uproar in Greece, and it seems to be pushing people closer to Tsipras. For most Greeks, it was the latest example of German gall. “100 day deadline and red alert” proclaimed Ta Nea’s headline. The report said that Brussels and Germany will the new Greek government that long to meet its commitments. The report said that Chancellor Angela Merkel is delaying her planned trip to Mexico so she can learn of the results of the Greek election. “Europe should do its duty” read another front-page title. The report said that French President Francois Hollande and Italian Premier Mario Monti agreed on the need to spur development. It added that the two leaders await a message from the Greek electorate that they want to stay in the euro. In translation, that means that Greeks should vote for pro-memorandum parties. “Hollande-ic jokes” read another title, making a word play on the name of the French president, which sounds like Hollande. The paper said that Syriza refused to get Hollande' message in the French president’s interview with private Mega TV, where he said that some countries – but not France - will want to evict Greece from the eurozone if the memorandum is not implemented. Of course, the company that owns the newspaper is also a stockholder in the same TV station. The editorial – entitled “Throw of the dice” - also focused on Syriza’s reaction to the interview, noting that party leader Alexis Tsipras said that he still insists on cancelling the memorandum. It blasted Tsipras for saying that EU creditors won’t cut off funding, and it concluded that he was playing Greece’s future in a throw of the dice. “Europe is not bluffing on the [Greek] exit” proclaimed Kathimerini’s headline. It cited its interview with Bundesbank president Jens Weidmann, where he said that non-implementation of the memorandum will lead to a cessation of funding. He declared that the eurozone cannot let Greece blackmail it with threat of contagion. But most Greeks are convinced that Germany has been blackmailing Athens for two years, decimating the income of the people, demolishing labour rights and social welfare, and threatening with bankruptcy if Athens does not put the interest of creditors (that’s where banker Weidmann comes in) above the survival of the Greek people. “Reduction of VAT tax on catering [restaurants etc] within the summer” declared Eleftheros Typos’ headline, quoting Samaras’ latest campaign pledge. The ND leader also said he opposes further wage and pension cuts. Famous last words. “The 700,000 undecided voters are the barometer” read Ethnos’ headline. The report said that the ten percent of voters who are undecided may tip the balances. and.... http://www.telegraph.co.uk/finance/financialcrisis/9334866/Gordon-Brown-France-and-Italy-may-need-a-bail-out.html By Robert Winnett, Political Editor 9:18PM BST 15 Jun 2012 237 Comments The former prime minister said that the “standard but often empty” plans usually agreed at such summits will “not do when the euro area is finally approaching its own day of reckoning”. He warned that the crisis threatened to spread and lead to Italy and even France requiring bail-outs. Mr Brown made the rare intervention amid mounting concern that the re-run of Greek elections tomorrow will lead to the country being forced out of the euro. If the Syriza party plays a key part in forming a new Greek government, its refusal to agree to cut spending is expected to lead to the country being ejected from the single currency. Fears are mounting that “contagion” could spread quickly to countries such as Portugal and Spain, which would need international financial assistance. There is growing speculation that central banks, including the Bank of England and American Federal Reserve, are on standby to inject billions of pounds into the global economy if necessary on Monday. Angela Merkel, the German chancellor, François Hollande, the French president, and other eurozone leaders are understood to have delayed leaving for the G20 summit in Mexico until Monday morning. In an article for news agency Reuters, Mr Brown urged leaders to follow the example set at the 2009 London G20 summit, after the last credit crisis, when an international bail-out was agreed. He said: “At G8 and G20 summits, world leaders have tended to be mere spectators as Europe has gone from one failed intervention to another. Now  […] they must not leave Mexico without agreeing to support a big European firewall to stop contagion.” Mr Brown’s call is unlikely to come to fruition. Sources have played down speculation of a major international plan, with the summit expected instead to put pressure on Germany to agree to new pan-European bonds. and....... http://www.telegraph.co.uk/finance/financialcrisis/9335043/Debt-crisis-tensions-mount-as-Angela-Merkel-attacks-French-economy.html By Bruno Waterfield, in Berlin 7:25PM BST 15 Jun 2012 284 Comments Mrs Merkel warned the policies of the new Socialist president could destroy the eurozone by bringing the sovereign debt crisis to France itself. The bleak assessment came on the eve of an important weekend that will see elections in Greece and France and a key G20 meeting of world leaders in Mexico. "Europe must discuss the growing differences in economic strength between France and Germany," she said. Tensions are running so high that Jean-Marc Ayrault, the French prime minister, was forced to deny that Paris had broken off the Franco-German partnership, following Berlin anger at a Franco-Italian summit in Rome on Thursday. There was a growing sense of crisis in European capitals after David Cameron, the Prime Minister, took part in a tense conference call with Mrs Merkel, Mr Hollande and Mario Monti, the Italian prime minister. G20 leaders meet in Los Cabos on Monday afternoon for talks dominated by the deepening eurozone crisis and the result of close elections that could put Greece on course to leave the EU's single currency. Eurozone finance ministers are on standby for an emergency telephone conference on Sunday night, if Greek exit polls put the radical Left Syriza coalition in the lead, to trigger contingency plans, including possible capital controls in the event of a run on banks in Greece, Portugal or Spain. A victory for Syriza could prompt a default and Greek exit of the eurozone. In the event of political chaos in Greece or a financial meltdown drawing in Spain and Italy on Monday following the result of the Greek elections, an emergency meeting of G7 ministers will be held in the wings of the G20 gathering in the Mexican resort. As tensions within the eurozone deepened on Friday, the German chancellor dismissed "quick fixes" and refused to consider any discussion on pooling debt for eurobonds or Germany underwriting bank deposits in other eurozone countries. She hit out at Mr Hollande for blocking EU supervision of national spending and supporting eurobonds, which she warned would "mask" divergences between Germany and "mediocre" or declining eurozone economies, such as that of France. "If you look at the development of unit labour costs between Germany and France, differences have now been growing a lot more strongly, a topic that must be discussed," Mrs Merkel said. Mr Hollande, elected last month, has announced plans to increase the cost for companies of laying off workers after a jump in French unemployment. Senior German and EU officials have expressed concern that the Socialist policies will bring market turbulence to France and increase French borrowing costs, threatening the country's long-term credit rating. "France needs its AAA or else the euro cannot bear the debt burden. Germany cannot do it alone," said a eurozone official.