Quote:
Reports financial institutions may remain closed all week
Greek Prime Minister Alexis Tsipras says the Bank of Greece has recommended that banks remain closed and restrictions be imposed on transactions, after the European Central Bank didn?t increase the amount of emergency liquidity the lenders can access from the central bank.
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Greek Banks to Remain Closed Monday as Capital Controls Imposed
Closed until further notice -- the article says perhaps a week ...
If the Euro falls to $1.07 next week I would not be surprised. It's not that the Euro is really worth less this will decrease the demand for Euros to buy some European government ''junk bonds'' they may have become too risky .. we'll see.
Cyprus all over. Are Spain and Italy next?
The political problems prior to WW2 started with financial collapse in Germany and a Fascist regimes rising in Spain, Italy and Germany. Germany and the UK has ''one foot out the door'' hopefully Greece comes to agreement soon -- this is the most likely scenario.
Paul, we accept the fact that there are donor and recipient states in the US and the shoe may be on the other foot some day. We also don't want mass migrations state to state for economic reasons this causes social unrest.
The movement of the Roma within the EU and future Turkish immigration when (if) Turkey ever is accepted into the EU would be a European parallel.
It is better (and in the long run less expensive) to improve people's lives and opportunities where they live within a national federation than to have to assimilate them into your state's better economic and lifestyle environment. However, you cannot necessarily improve social conditions one state compared to another. A lot of the social problems in the USA are caused by these social problems eluded to.