Mon Jun 29, 2015, 03:49 PM

Greece in shock as banks shut after snap referendum call (Referendum date: July 5th)

Stunned Greeks faced shuttered banks, long supermarket lines and overwhelming uncertainty on Monday as a breakdown in talks with international lenders plunged their country deep into crisis.

With Greece's bailout expiring on June 30 and an IMF payment falling due at the same time, Prime Minister Alexis Tsipras pleaded in vain by phone with European officials to extend the program until a referendum on July 5 on its future terms.

The frantic efforts to secure Greece's place within the euro zone followed a dramatic weekend. Tsipras's decision, early on Saturday, to put the aid package to a popular vote took the lenders by surprise and sent Greeks rushing to cash machines.

It also pushed Greece toward defaulting on 1.6 billion euros ($1.77 billion) due to the International Monetary Fund on Tuesday, which would take it closer to an exit from the euro zone. A Greek official confirmed to Reuters that the payment would not be made.

More:
http://www.reuters.com/article/2015/06/29/us-eurozone-greece-idUSKBN0P40EO20150629

Published on Jun 29, 2015

Stunned Greeks faced shuttered banks, long supermarkets lines and overwhelming uncertainty on Monday as a breakdown in talks between Athens and its international creditors plunged the country deep into crisis.

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I'm astounded by the folly and greed of the Troika, they so fear the example of Greece, they put the entire Eurozone at risk, but given Germany's Beggar Thy Neighbor policy, perhaps in time, they will be a huge example of their own folly and greed. I think so...in time they may face more than what they feared, and they will deserve all of it. I initially watched the attached video at the Reuters link, which laughably or ironically, take your pick, was preceded with a Goldman-Sachs commercial. People will watch at the Reuters link, some without a clue as to the role of GS in this crisis...they're still in business, no risk of bankruptcy...they are too big to fail or jail, nations, however, are expendable.

16 replies	Author	Time	Post
Greece in shock as banks shut after snap referendum call (Referendum date: July 5th) (Original post)	mother earth	Jun 2015	OP
Profits>people.	daleanime	Jun 2015	#1
In spite of the fact that it looks like Greece is out of the EU or soon may be, I still believe they	mother earth	Jun 2015	#2
It's too easy to paint people as villains...	daleanime	Jun 2015	#4
We should beware, because the poison is global, look what's happened here with too big to jails,	mother earth	Jun 2015	#6
Amen.....	daleanime	Jun 2015	#9
in a TPP run world corporations and profits rule human beings of any nationality nt	msongs	Jun 2015	#3
Exactly. nt	mother earth	Jun 2015	#7
"Stunned and in shock"....really?	dixiegrrrrl	Jun 2015	#5
My shock comes after even KNOWING all of what you say, the Troika is hell bent on putting all of	mother earth	Jun 2015	#8
I keep thinking of that old saying...	dixiegrrrrl	Jun 2015	#13
Yes. Michael Hudson has said, "Debt that cannot be paid, will not be paid." What they are really	mother earth	Jun 2015	#14
Banks will be bailed IN, actually.	dixiegrrrrl	Jun 2015	#15
I am familiar with it, worst than bailouts really, I follow Ellen Brown, yes people who don't	mother earth	Jun 2015	#16
Apparently you thought they should keep Greece "under the tent".	mother earth	Jun 2015	#10
heh......	dixiegrrrrl	Jun 2015	#11
Bad dixie, bad, bad, bad.	mother earth	Jun 2015	#12

Greece in shock as banks shut after snap referendum call (Referendum date: July 5th)

1. Profits>people.

2. In spite of the fact that it looks like Greece is out of the EU or soon may be, I still believe they

4. It's too easy to paint people as villains...

6. We should beware, because the poison is global, look what's happened here with too big to jails,

9. Amen.....

3. in a TPP run world corporations and profits rule human beings of any nationality nt

7. Exactly. nt

5. "Stunned and in shock"....really?

8. My shock comes after even KNOWING all of what you say, the Troika is hell bent on putting all of

13. I keep thinking of that old saying...

14. Yes. Michael Hudson has said, "Debt that cannot be paid, will not be paid." What they are really

15. Banks will be bailed IN, actually.

16. I am familiar with it, worst than bailouts really, I follow Ellen Brown, yes people who don't

10. Apparently you thought they should keep Greece "under the tent".

11. heh......

12. Bad dixie, bad, bad, bad.