FT Alphaville: Interventions and bank queues in Eastern Europe

Reuters is reporting that Poland's central bank stepped into the spot market for the fourth time in less than three months on Wednesday to help support the zloty versus the euro, which was once again nearing levels last seen in 2009.

That's yet another peripheral EU central bank spending their limited Euro reserves to depress the Euro's exchange rate.

Develeraging by eurozone banks in Eastern Europe is already having negative effects across the region.

On Wednesday there were reports of queues forming outside Latvia's Krājbanka (H/T @finansakrobat)...

To err is of course human. But to mess things up spectacularly, we need an elite — Yanis Varoufakis