Greek Crisis

Greek Crisis

As their country teeters on the brink of financial collapse, business owners in Greece fear for the worse. The countries banks will remain closed this week through Thursday. This move also prevents Greek firms from making payments to other companies abroad. “The Greek economy is not production based, it’s highly reliant on imports of goods and raw materials,” says Constantine Michalos. “In other countries where capital controls of this sort of have been put in place, businesses are usually exempted, but not this time. If we can’t make electronic remittances, then soon even the most basic goods will not be available.”

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