Another day, which means a new batch of bad economic news reports. The worry now is that the bank runs that are occurring in Greece will spread to other European nations that are similarly in economic distress. Italy and Spain with much, much larger economies than Greece are simply to large to bail out. Should the contagion now afflicting Greece make its way to these other nations, then game over.
It's like a deadly disease; The first victim, (Greece), is now near deaths door, while another couple of patients are hacking up a storm in the next beds, (Spain and Italy). However it would appear that the dangerous disease is spreading as other patients are trickling into the ward with distressing signs, (see articles below related to India, Indonesia and the U.K).
It's all coming to a head, just as bible prophecy warned:
The Bank Runs In Greece Will Soon Be Followed By Bank Runs In Other European Nations
World Bank agrees $2b loan for
Bigger economic crisis if no urgent steps, warns Congress MP in Rajya Sabha
David Cameron and Sir Mervyn King urge eurozone action