Greek Economy Faces Total Collapse As Doctors Flee, Retail Sales Plunge 70%

28-Jul (ZeroHedge) — Back in May we outlined the cost to the Greek economy of each day without a deal between Athens and creditors.

At the time, a report from the Hellenic Confederation of Commerce and Enterprises showed that 60 businesses closed and 613 jobs were lost for each business day that the crisis persisted without a resolution.

Since then, things have deteriorated further and indeed, with the imposition of capital controls, businesses found that supplier credit was difficult to come by, leading to the very real possibility that Greece would soon face a shortage of imported goods, something many Greeks clearly anticipated in the wake of the referendum call as evidenced by the lines at gas stations and empty shelves at grocery stores.

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PG View: How could this be? Greece has received €240 bln in bailouts in the last 5-years, plus a €7 bln bridge loan to tide them over until they can hopefully free up €86 bln for a third bailout. Does anyone really think that €86 bln is going to alter the ultimate fate of Greece?