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Here's the queue banking up.
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THERE is a new kind of queue in banking, and it is not formed of terrified depositors trying to withdraw their savings.
At a stroke Modi rendered 86% of currency worthless outside a bank branch, forcing millions to queue outside banks to change small amounts of old money for legal tender.
On August 7th Barclays joined the queue of banks bearing bad news, with pre-tax profits down 33% and predictions of tough times ahead.
In a bid to limit the squeeze, parties are paying workers to queue at banks and swap old notes for new ones and evade scrutiny from tax inspectors, said party activists in Mathura.
There has been widespread anger among millions of Indians forced to queue outside banks to change small amounts of old money for legal tender, possibly denting support for the ruling Bharatiya Janata party (BJP) at least in the short term.
Thus reassured, students and housewives began queuing at bank branches for application forms.
There were no queues outside bank branches in central Athens or its suburbs.
Supermarket shelves were ransacked, prices shot up amid rumour of shortages and savers queued outside banks to withdraw their deposits.
It also risks prompting a repeat of the chaos witnessed in India when the withdrawal of highest value rupee notes prompted huge queues at banks.
Being an internet-based account, there were, of course, no snaking queues outside bank branches as there had been a year earlier with Northern Rock.
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