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Paul Krugman: Greece Over the Brink

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opednews.com Headlined to H3 6/29/15

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The situation in Greece has now reached what looks like a point of no return. Banks are temporarily closed and the government has imposed capital controls -- limits on the movement of funds out of the country. It seems highly likely that the government will soon have to start paying pensions and wages in scrip, in effect creating a parallel currency. And next week the country will hold a referendum on whether to accept the demands of the 'troika' -- the institutions representing creditor interests -- for yet more austerity. Greece should vote 'no,' and the Greek government should be ready, if necessary, to leave the euro.
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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

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