Greek banks are now expected to stay closed until July 7 , and the Athens Stock Exchange will be closed tomorrow as well.
Prime Minister Alexis Tsipras says that "capital controls" will be imposed. Transfers of cash out of the country will be prohibited, and a maximum of $66 can be withdrawn from an account per day.
Everybody seems to think it's important to keep Greece in the eurozone, but if the Greeks won't negotiate in good faith, I don't see how they can. The idea of central banking is to loan money to banks to keep them afloat -
unless the banks are insolvent. In that case, it's only throwing good money after bad.
Onward and upward,
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