BBC News
November 3, 2011
It's another messy morning in the turbulent new history of the eurozone.
At 4.42am, the Greek finance minister issued the following intriguing statement:
"Greece's position within the euro area is a historic conquest of the country that cannot be put in doubt. This acquis by the Greek people cannot depend on a referendum.
The country must feel safe and stable and that is the first requirement in order for it to be truly safe and stable. Greek banks are totally secure, as an integral part of the European banking system. This was apparent last night from the discussion in Cannes."
That looks like a warning to Greek people that any savings they have not yet withdrawn from Greek banks (and a lot of money has already been taken out of the Greek banking system) would be put at risk by a vote against the eurozone bailout package: a no vote would be seen as a vote to leave the eurozone, as Angela Merkel has (helpfully?) pointed out, and the Greek government would not be able to guarantee the viability of Greek banks in those momentous circumstances.
More
No comments:
Post a Comment