Wednesday, June 13, 2012

Capital Controls for Greece - Euro Crisis



Daily Mail: Reports that the EU is considering plans for capital controls on Greeks taking money out of Greece also freezing the right of Greeks to travel within the EU.

Lets Get Real:

This is the nightmare result for the EU folks, the left wing anti austerity Parties form the next Greek Government and demand that Greece be treated the same as Spain, in other words never ending bailouts without any strings. The election on Sunday in Greece will decide the fate of Greece in the Euro and the fate of the Euro itself. One can assume that the Greek voters will not be impressed by the fact that the Spanish have gotten a 100 billion euros without any strings, they might think its safe to vote for the left wing Parties base on the idea that France and Germany are bluffing. The Greeks have to understand this is not a bluff, if the Greeks don't keep to the agreed austerity deal then they are out of the Euro, that simple and brutal. The Greeks will be on their own, the EU has to worry about Spain needing a State bailout, on top of that Italy with its 2 trillion debt just might sink the euro. Thus if your in Greece please understand you have only one choice, not great, bad in many respects, Greece has to support the austerity parties or face the results. It can be cold out there, no EU or Euro cover, time for Athens to take the horrible medicine, there is no other choice.

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