1. Greek euro exit, very possibly next month.

2. Huge withdrawals from Spanish and Italian banks, as depositors try to move their money to Germany.

3a. Maybe, just possibly, de facto controls, with banks forbidden to transfer deposits out of country and limits on cash withdrawals.

3b. Alternatively, or maybe in tandem, huge draws on ECB credit to keep the banks from collapsing.

4a. Germany has a choice. Accept huge indirect public claims on Italy and Spain, plus a drastic revision of strategy — basically, to give Spain in particular any hope you need both guarantees on its debt to hold borrowing costs down and a higher eurozone inflation target to make relative price adjustment possible; or:

4b. End of the euro.

And we’re talking about months, not years, for this to play out.

Verizon will kill 'grandfathered' unlimited data plans, push users to data share

Verizon Wireless (NYSE:VZ) plans to eliminate the $30 per month unlimited data plan that it still provides to 3G customers who were "grandfathered" into the plan because they were data customers prior to the company's switch to tiered data pricing last July. Speaking at the 40th J.P. Morgan Technology, Media and Telecom conference, Verizon Communications CFO Fran Shammo said that as these 3G unlimited data plan customers migrate to 4G LTE, they will have to purchase the company's data-share plan (which Verizon plans to launch in mid-summer) and move off the $30 per month unlimited data plan. "Everyone will be on data share," Shammo said.

Verizon's data share plan is scheduled to launch in mid-summer but no pricing details have been announced. Shammo said that he believes this new plan will make it easier for families and small businesses to connect multiple devices. The industry, Shammo said, has constrained the market around connected devices because people think they need an additional data plan. "If I can add as many devices as I want, that is more efficient from a family perspective and a small business perspective," he said.
. . . .
When asked how Verizon will drive customers to this new data share plan, Shammo said that LTE will be the anchor for the new plan and that as customers upgrade from 3G to LTE, they will have to be on a data share plan, allowing the company to sunset its unlimited 3G data plan. "A lot of our 3G base is on unlimited," Shammo said. "When they migrate off 3G they will have to go to data share. That is beneficial to us."

A federal appeals court on Friday upheld the National Security Agency’s decision to withhold from the public documents confirming or denying any relationship it has with Google concerning encryption and cybersecurity.
That’s despite the fact that Google itself admitted it turned to “U.S. authorities,” which obviously includes the NSA, after the search giant’s Chinese operation was deeply hacked. Former NSA chief Mike McConnell told the Washington Post that collaboration between the NSA and private companies like Google was “inevitable.”
The Electronic Privacy Information Center, invoking the Freedom of Information Act, had sought such documents following the January 2010 cyberattack on Google that targeted the Gmail accounts of Chinese human rights activists. The attack was among the considerations that prompted Google to consider abandoning China, and Google announced that it was “working with the relevant U.S. authorities.”
The Wall Street Journal and the Washington Post followed up, saying Google had contacted the NSA following the attack.
EPIC sought documents seeking to know what type of collaboration there was between Google and the NSA and, among other things, records of communication between the NSA and Google concerning Google’s e-mail service Gmail.
In response, the NSA invoked a so-called “Glomar” response, in which the agency neither confirmed nor denied the existence of records on the topic at all. EPIC sued and lost in the lower courts.
On appeal, the U.S. Circuit Court of Appeals for the District of Columbia Circuit sided with the NSA’s conclusion that admitting the existence of relevant documents would harm national security (.pdf).
Judge Janice Rogers Brown, in a 3-0 opinion, sided with the government’s contention that acknowledging any records “might reveal whether the NSA investigated the threat,” or “deemed the threat a concern to the security of the U.S. government.”
If we removed all the legalese, the appellate court upheld the government’s often-said contention that, “if we told you, we’d have to kill you.”