Monday, June 29, 2015

Greece's financial crisis could affect the "rentier" class of Piketty


Imagine going to an ATM and not being allowed to use it, or only to withdraw $60.  It doesn’t matter how much you have saved or even worse inherited.
  
That seems to be what’s going on in Greece this week.
  
  
Vox has a quick explanation here
  
The Wall Street Journal reports that foreign bank accounts are not limited, but many ATM’s have run short, here. The Dow is down 200+ points at midday Monday, which is a mild reaction from Wall Street, as reported in the New York Times, here
  
Greece wants to have a referendum on the austerity measures, but it looks like it will have to drop the Euro. 

Update: July 2

I found a "Blogorrhrea" blog posting about the a "game-changer" on the Greece crisis, accusing European bankers of "predatory lending", link here

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