The Greek Banks - Greek Crisis Part 3

Telegraph - Live Blog: Reports " The anti-austerity party led by Alexis Tspiras won on Sunday but EU will threaten the collapse of Greek banks and prospect of going bust unless he signs up to existing austerity measures. "

Lets Get Real:

The new Greek Government has to start to worry that the people of Greece on the safe side will take their money out of the banks, leading to a banking economic crisis, the people of Greece are wise, they will understand that either the EU has to buckle or the new Greek Government has to go back on its promises.   The EU can move a bit, but Germany will not pay for the promises of a left wing Party in Greece, that opens as stated for other Governments within the EU to back on their deals.   The coming days and weeks should show how strong the new Greek Government is, can it keep its promises or does it have to row back, at present it could either way, poor Greece. 

What NEXT for Greece Part 2 - The Greek Crisis

Guardian - Live Blog: Reports in its 2.11pm post the following, " Alexis Tsipras, the 40-year old left-wing radical, has been sworn in as Greece’s next prime minister by outgoing president Papoulias. "

Lets Get Real:

IF Germany pulls the plug on Greece what should Greece do, that is simple, it should go back to its old home made currency, yes there will be serious economic results, people will take their money out of the banks in Euros and then keep them to see what happens with the new currency.   The prices in the shops will go up, but better than kind of quick pain than a cancer that grows on the body politic of Greece.   If Greece prints it own money it can control the economy better, and write off some of the money it owes to the banks.   Better the hard road taken now, than one that leads to more pain.  What the classical Greeks would make of this, is any ones guess, the birth place of Democracy has failed its people and the system. 

What NEXT for Greece - Greek Crisis

BBC News: Reports " The far-left Syriza party, the winner of Greece's election, has formed an anti-austerity coalition with a right-wing party, the Greek Independents. "

Lets Get Real:

The EU,IMF, and Germany have a problem, to they cut off Greece and see it fall out of the Euro or do they pay for the political promises of the left wing Syriza Party, if they fold then other Countries will ask for a better deal, Ireland, Italy and Spain.   The Germans for once will have to stand tough, will German tax payers pay for the promises of political party in another Country, this blog has it doubts.   THE watch word has to be austerity for the EU, if the EU just prints money it will cause a backlash in in inflation.   Time to tell the Greeks, thanks but no thanks for the git of your election.