Bill gets bigger
The imposition of capital controls on the Greek banking system was a major premeditated crime.
Those in charge had been duly informed of the sort of consequences such an event would entail.
We are now observing the effects of these capital controls across the entire spectrum of the country’s economy.
Both the market and the banks are caught up in an unbelievable mess from which it will take months to untangle themselves.
Meanwhile, exporting companies are in imminent danger, while nonperforming loans have skyrocketed.
What is required now, if the country is to avoid further disaster, is for the government to show that it is determined to make things right and to present a coherent plan.
Market professionals and experts have already offered suggestions that authorities should immediately take into consideration.
After all, the bill the country has to foot is already high enough.
