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Satans Mark/Cashless Title: Greek pensioners besiege banks to grab cash Athens (AFP) - In chaotic scenes, thousands of elderly Greeks on Wednesday besieged the nation's crisis-hit banks, which reopened to allow them to withdraw vital cash from their state pensions. "Let them go to hell!" shouted one pensioner, after failed talks between Athens and international creditors sparked a week-long banking shutdown. Prime Minister Alexis Tsipras ordered the banks to close on Monday for one week and imposed strict capital controls to head off a banking collapse after panicking Greeks emptied the nation's cash machines. Athens has now reopened almost 1,000 bank branches for three days to allow pensioners without cards withdraw 120 euros ($133) to last them the rest of the week. Under banking restrictions imposed all week, ordinary Greeks can withdraw up to 60 euros a day for each credit or debit card -- but many of the elderly population do not have them. Pensioners with cards will not be eligible for the 120 euros withdrawal, because they can already withdraw significantly more cash per day via the ATM. The move has again sparked lengthy queues at banks across Greece -- and outrage from many retirees who are regarded as among the most vulnerable in society, exposed to a vicious and lengthy economic downturn. "I took the money out. I know that this is not enough, but that's what I could take and so I took it," said Dyonisia Zafiropoulou, a former employee of the national electricity company DEI. She said she was convinced Greece could weather the financial crisis. "I lived during the Occupation, I experienced hardship and I think we will overcome this moment," she told AFP. - 'No money for medication' - Another customer, a retired sailor who also asked not to be named, told AFP he had no cash to buy crucial medicine for his sick wife. "I worked for 50 years on the sea and now I am a beggar for 120 euros," he said. "I took out 120 euros -- but I have no money for medication for my wife, who had an operation and is ill," he added. Retired Greeks traditionally draw their pensions in cash from their local bank. "Each month the money is paid normally -- but not this month," said a retired employee of the Bank of Piraeus. Pensioners must now eke out their cash until next week. "I will spend less than" 20 euros per day, said one man queueing at a National Bank of Greece branch in Athens. In Greece's second biggest city, Thessaloniki, a group of about 200 pensioners staged a protest outside the National Bank of Greece. The country's crisis-hit economy has buckled under the weight of around six years of recession and accompanying austerity measures demanded by a series of international bailouts, both under Tsipras and his predecessor Antonis Samaras. "I feel shame for my country. They are all responsible, both Samaras and Tsipras," another pensioner told AFP in Thessaloniki. Greece's generous state pension system is at the heart of fraught talks between Athens and its creditors. The nation's European and International Monetary Fund (IMF) creditors argue that the public pension system is simply too expensive and unsustainable. Tsipras however contends that his recession-hit nation can ill afford cutbacks, and also faces fierce domestic pressure from his radical leftist Syriza party that came to power in January. "I suspect that things are not going well, when one constantly imposes restrictions like this. God help us," added another pensioner. Poster Comment: Some good comments: So now all these socialists are reaping their rewards for decades of liberal socialism, no sympathy for you. Coming soon to the USA. They borrowed their way into this problem and now they want us to fell sorry for them??? They want us to care because they said the austerity plan is to rigid. I dont care pay the money back or go back to being a 3rd world eastern european country A man is standing in line to collect money is screaming let the people providing the money go to hll. That's precious. The banks that were dumb enough to loan them money should not be bailed out, they should fail. The free market is supposed to provide a mechanism to discover real value, being stupid enough to loan money to Greeks is of no value. The Persians knew long ago; "loaning money to a Greek is the same as giving money to a Greek." If Goldman-Sachs does not know what Tissaphernes knew they should fail. Greece can get their Drachma back, instead of treating the rest of Europe like the treasury of Delos. They need to support themselves, and the Drachma can find whatever value it has, they'll probably make it go the way of the Zimbabwe dollar, but then they'll be able to compete with China on making cheap happy meal toys. Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest Begin Trace Mode for Comment # 7.
#1. To: nativist nationalist (#0)
Why blame Greeks totally when it is the result of an unworkable currency that is basically the Deutchemark renamed? The Germans loan out their money so importers can buy their goods. That's th elong and short of it - any attempt to make this about socialism is just American talk show level of economic ignorance.
Why blame the Greeks for their outright criminal fraud against the Germans and EU that went on for years? The Greeks are by far the most guilty of abusing the euro, EU, IMF, etc. While Italy, Spain, Portugal are all guilty too, they are not in the same class of corruption as Greece.
Fraud had zero to do with the loans. Fraud is on the tax paying side - Greeks don't pay taxes - I assume they are experts at hiding from tax collectors since Roman empire times.
A huge proportion of Greek workers were government workers. 14 monthly paychecks a year, average 23 hour work week, full pensions at 58 (or even 50). The EU was foolish to wait so long to deal with Greece and the others. Italy, Spain, and Portugal aren't much better. Eastern Europe is still in fairly bad shape but hasn't piled up the huge debts of the others.
The EU was foolish to wait so long to deal with Greece and the others. Italy, Spain, and Portugal aren't much better. Eastern Europe is still in fairly bad shape but hasn't piled up the huge debts of the others. Greece has a lot of govt workers but I don't think that is the cause of this either.
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