Greece declares bank holiday to avoid run

NY Times:

Greece Will Close Banks to Stem Flood of Withdrawals

Greece will keep its banks and stock market closed on Monday and place restrictions on the withdrawal and transfer of money, Prime Minister Alexis Tsipras said on Sunday, as Athens tries to avert a financial collapse.
The home of the democratic process mange to vote for an unrealistic government that tried to avoid payment of the debt run up by previous governments who spent irresponsibly and failed to collect taxes owed.  The government appears to be floundering around and huffing and puffing but it looks like it will blow its own house down.


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