Greece closes banks. Is this the beginning of the process of exiting from … – Politics

The wealthy Greeks and those more thrifty have long since moved money from accounts at local banks. Some placed them abroad, others might keep in the house or bought with them the gold or real estate. In the Greek banking system today is barely enough funds, which eleven years ago, well before the crisis. Still, some Greeks hold savings there, or at least measures for current expenses. Unfortunately, tomorrow will not be able to have easy access.

Such a scenario was still under consideration, but seemed to only hypothetical. It was known that the negotiations between Greece and its creditors will crop up until the last minute, but even supporters of “Grexitu,” or exit the country from the euro zone, doubted such a situation. But we already know that executes at least the first stage of such a scenario. Greece closes banks and introduces a limit of withdrawals of money from accounts. In this way, it ceases to function free circulation of money – the basis of a free market economy.

The Greek government has no other choice, because on Sunday, the European Central Bank has clearly informed that he will not increase the amount of aid for Greek banks. Tomorrow, hundreds of thousands of Greeks probably oblegałoby troops to recover the money, and that would lead quickly to the collapse of local financial institutions. To prevent this, banks will be temporarily closed, like most ATMs. And when they are opened, they will operate in a very limited manner.

However, we still do not know if it’s the beginning of a chain leading to the exit of Greece from the euro zone. On Tuesday, the country has to pay the installment of € 1.6 billion International Monetary Fund. Almost certainly will not. Tuesday will also be a formal aid program for Greece, but it has no significance, because as the seizure of power by Syriza winter it is frozen, and Greece does not receive any subsequent tranches of loans.

This Sunday country awaits a referendum on the conditions for new aid, but by that time can still happen very much. It is not known whether the government will find the money for the payment of salaries and pensions this week. It is also unclear how the Greeks themselves will react to the closed banks – with calmness and furiously.

What is known is that Greece may share the fate of Tunisia, where the tourism industry has just collapsed after the terrorist attack. In both countries, the importance of foreign visitors was comparable economies.

If the Greek economy really ceases to exist, and many seem to indicate, waiting for us mass dismissal of booking at a time when the peak season starts. You could not choose a worse time for such financial earthquake. Banks will have vacation, but for the rest of the country is not.