Tuesday, September 4, 2012

American Businesses Planning for Catastrophic Greek Exit from Euro

American big business is making contingency plans in case Greece leaves the Euro Zone, it has been revealed.

Bank of America and Merrill Lynch all have plans in place to get money to their employees living and working in the Mediterranean nation should the banks close suddenly, leaving American citizens stranded and without a way to access money. Merrill Lynch has plans in place to send armored trucks to go door to door with Greece's old monetary unit the drachma in the event that the country reverts back to using it in favor of the Euro.

Many experts believe that Greece—which has been teetering on the brink of complete financial collapse for the past several years—will exit the Euro monetary system as early as this Friday. The New York Times is reporting that many experts anticipate an announcement after the American markets have closed for the day on Friday, in order to prevent financial chaos from spreading around the world.

An announcement on Friday would mean that banks would have to be closed through early next week as government officials scramble to print enough of the "new" currency for its panicked citizens to use. This would undoubtedly create bank "runs", as people rush to exchange their Euros into the new currency.

American automobile manufacturer Ford Motors is so confident that the switch will take place their computers have already been programed to accept the drachma for the Euro in financial transactions. Credit card companies Visa and Mastercard have both stated officially they have back-up plans and protocols in place so that they will be prepared if other countries also decide to leave the Euro currency. 

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