Saturday 30 July 2011

Meanwhile in Greece . . . .

Yesterday   Greece debt: Austerity-hit Spartans resent Athens
Vasilis's restaurant and catering business faces bankruptcy

"I feel very angry inside," he says.
"When you try to do the best for your country and your children and your neighbours, you still get treated like garbage by the authorities," he says.
"It is psychological violence. Maybe the terrorists we see on the television - this is the process they have gone through."
His words are greeted with nods around the table.


A week ago Greece urges citizens to repatriate money held in foreign banks

Greek money moved mostly to banks in Switzerland and Cyprus. Greeks eager to offload deposits have also been reported flying to the UK with "suitcases full of cash" used to snap up prime properties in central London.
Estate agents in the capital said that over the course of the past year Greeks had scaled the rich list of foreigners acquiring £2m plus properties in Britain "often closing deals in less than a week."

Recently the Greek media reported the case of a man in Crete who had hidden a vast amount of cash in his home only to discover that it had been destroyed by mice.
mouse eaten money

*      *      *      *      *      *      * 


It seems to me that the concept of the Euro is basically flawed. It assumes that all member countries have a similar attitude to material wealth. 

What happens when some contries don't trust their banks and the govenment controlling the purse strings?

No comments: