A total collapse of the electricity and telecommunications grid is the way I always visualize TEOTWAWKI (the end of the world as we know it).
It seems about to happen in Greece, where the government is out of money and depositors are withdrawing their money from Greek banks and sending it overseas as fast as they can.
According to Reuters UK Edition, the Greek power regulator RAE has called an emergency meeting to avert a collapse of the debt-stricken country’s electricity and natural gas system. They did so after receiving a letter from Greece’s natural gas company DEPA, which threatened to cut supplies to electricity producers if they failed to settle their arrears with the company.
The IMF, Germans and global investment banks all seem pretty staunch about refusing Greece any additional loans unless their government agrees to further austerity cuts. Yet existing lenders lose any hope existing loans will be repaid if they allow the power to be cut off to Greece’s struggling productive sector. Makes you wonder who will blink first.