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"I don't know what else to say. It's a mess."
"I can't believe it," said Athens resident Evgenia Gekou, 50, on her way to work. "I keep thinking we will wake up tomorrow and everything will be OK. I'm trying hard not to worry."
"I've worked all my life, only to wake up one morning to a disaster like this," said one shop owner, who was there to collect his wife's pension.
Their imposition capped a dramatic weekend for Greece that has pushed the country towards a likely default on 1.6 billion euros ($1.77 billion) of International Monetary Fund loans on Tuesday and closer to an exit from the euro currency bloc.
Coming to a country dearest to you??????????????????????????????????????????????? ??????
Greece in shock as banks shut after snap referendum call
The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states in the mid-20th century. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states. The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate by tying its currency to gold and the ability of the IMF to bridge temporary imbalances of payments. Also, there was a need to address the lack of cooperation among other countries and to prevent competitive devaluation of the currencies as well. https://en.wikipedia.org/wiki/Bretton_Woods_system
Thank goodness we have the IMF to manage the fiat currency- - - - -Right?
The Secretary of the Treasury serves as the U.S. Governor to the IMF, and the U.S. Executive Director of the IMF is one of 24 directors who exercise voting rights over the strategic direction of the institution. The U.S. is the largest shareholder in the Fund. Meg Lundsager is currently the U.S. Executive Director. http://www.treasury.gov/resource-cen...Pages/imf.aspx
"I can't believe it," said Athens resident Evgenia Gekou, 50, on her way to work. "I keep thinking we will wake up tomorrow and everything will be OK. I'm trying hard not to worry."
"I've worked all my life, only to wake up one morning to a disaster like this," said one shop owner, who was there to collect his wife's pension.
Their imposition capped a dramatic weekend for Greece that has pushed the country towards a likely default on 1.6 billion euros ($1.77 billion) of International Monetary Fund loans on Tuesday and closer to an exit from the euro currency bloc.
Coming to a country dearest to you??????????????????????????????????????????????? ??????
Greece in shock as banks shut after snap referendum call
The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states in the mid-20th century. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states. The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate by tying its currency to gold and the ability of the IMF to bridge temporary imbalances of payments. Also, there was a need to address the lack of cooperation among other countries and to prevent competitive devaluation of the currencies as well. https://en.wikipedia.org/wiki/Bretton_Woods_system
Thank goodness we have the IMF to manage the fiat currency- - - - -Right?
The Secretary of the Treasury serves as the U.S. Governor to the IMF, and the U.S. Executive Director of the IMF is one of 24 directors who exercise voting rights over the strategic direction of the institution. The U.S. is the largest shareholder in the Fund. Meg Lundsager is currently the U.S. Executive Director. http://www.treasury.gov/resource-cen...Pages/imf.aspx
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