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GREECE SITUATION UPDATES: The death of a 19-year-old Greek student has come to symbolize everything that's wrong with austerity!!!
Ms Sans Serif
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[quote:Luisport:MV8xODY4OTU4XzMxMjE3ODM4XzY4MzMxOTZB] ROUBINI: It's Time For Greece To Leave! Nouriel Roubini has a new editorial up on Project Syndicate, and his message is simple: a Greek default is obviously coming down the pike, so policymakers might as well seize the opportunity to guide Greece out of the eurozone in an orderly fashion in order to minimize the pain for everyone. The bottom line is that the only way Greece can get back on track to competitive growth given its current state of fiscal affairs is real currency depreciation. Roubini's recipe for an orderly exit: Losses that eurozone banks would suffer would be manageable if the banks were properly and aggressively recapitalized. Avoiding a post-exit implosion of the Greek banking system, however, might require temporary measures, such as bank holidays and capital controls, to prevent a disorderly run on deposits. Read more: http://www.businessinsider.com/roubini-greeces-only-choice-is-to-leave-the-eurozone-now-2012-5#ixzz1v992fQKE [/quote]
3 min Theodora Oikonomides‏@IrateGreek
#Greece Army has ordered a sudden, real-time preparedness exercise of Rapid Response force on a remote island, via @doleross #rbnews
link to twitter.com
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