Greece To Close Banks, Impose Capital Controls Amid Looming Default
 

The market will be fun to watch tomorrow. http://www.npr.org/sections/thetwo-w...ooming-default

Why any group of so called economists actually believed the EU could have a common currency but independent finance ministries is beyond comprehension.

The only surprising part is that it took this long for the whole fool's paradise to break down.

Looks like a bit of a drop yesterday, -350 pts. Today was up slightly. It's mostly the EU and the IMF that'll get a soaking from what I've heard.

The Frankfurt DAX closed down 3.56% yesterday and fell again today by 1.25%, so nearly 5% in two days.

I wonder if the Germans are cutting off their noses to spite their faces?
Seems shortsighted.

They have a lot to lose, in several respects.

It is almost a 24 hours 7 days topic in the news channels here for weeks and months. It is a classical Greek drama. The ordinary Greek citizen has to pay for what the two demi-monde POLITKASPER Zipras and Varoufakis have made a botch-up of.

Very sad and the worst case (currently rather unlikely) would be a civil war.

The whole austerity idea was a screw up in the face of a depression, but try and tell that to Angela.

Greece received 90 billions euros from Germany. Money that is gone forever, because Greece will never pay back. But we owe 476 billions Reichsmark (how much might that be in euros) to Greece caused by the WWII devastations, so this is okay.

Angela worked her butt off in order to find a solution for the debt crisis. Her austerity was and is a means that even she herself does not like - but exactly this austerity is what the Greek politicians actually needed and now her patience is at an end.