Greece Prepares To Nationalize Banks

by The Telegraph
April 3, 2015

‘We are a Left-wing government. If we have to choose between a default to the IMF or a default to our own people, it is a no-brainer,’ says senior Greek official

Greece is drawing up drastic plans to nationalise the country’s banking system and introduce a parallel currency to pay bills unless the eurozone takes steps to defuse the simmering crisis and soften its demands.

Sources close to the ruling Syriza party said the government is determined to keep public services running and pay pensions as funds run critically low. It may be forced to take the unprecedented step of missing a payment to the International Monetary Fund next week.

Greece no longer has enough money to pay the IMF €458m on April 9 and also to cover payments for salaries and social security on April 14, unless the eurozone agrees to disburse the next tranche of its interim bail-out deal in time…



2 Comments - what are your thoughts?

  • James in Texas says:

    Just a thought, take a hard-look at the future of the USA. We have nearly become a country of “Free-stuff” and European Socialism. Being young is wonderful, primarily because most of us “out-grow it”! Greece has become a nation of “takers”, and we are very close to that, Period!

  • David in MA says:

    “Greece Prepares To Nationalize Banks”
    (And ask Obama for a bail-out?)

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