It was late at night, in fact, it was very early on Tuesday, when Greek Finance Minister Evangelos Venizelos called Greeks to bring their money back. From abroad. And let it flow in the Greek economy. Venizelos made an appeal , a “national invitation” so to say, and urged the Greeks to throw their legally or illegaly obtained savings like confetti in the Greek economy. ‘Bring your money back from abroad, empty your matrasses’, Venizelos told more or less the Greeks, who happened to be sleeping at the time of his press conference. The Greek FinMin was referring to those Greeks who had withdrawn their money form the banks to save it in case of a Greek bankrucpty.
Tired from the marathon-long talks at the Eurogroup meeting and drunk from the success of securing a second bailout, Venizelos said that the Greeks’ savings abroad should return to the country as they do not meet family or business needs.
“These funds remain inactive, they do not bring any profit to those who have them, they are in danger of disappearing through the labirynths of black economy and money laundering, while these funds, which are recorded anyway because they left the country via the banks, if they return and they must return, they will help those who have them and those expecting to be funded by the Greek banking system,” Venizelos said during a joint press conference wiht PM Lucas Papademos.
The Greek Finance Minister also appealed to those Greeks who keep their money inside the country, under matresses or inside clay pots, not to keep it but to use it in order to help businesses, economy, employment. A confident Venizelos said further,
“Today, from here, from Brussels, it is an opportunity to make that call, if you want this invitation, because it is a national invitational now that we have the new program, now that we have the PSI, now that the euro zone, the IMF and the ECB sends a clear message, without dissent, that Greece is and will always be a member of the euro area.”
Who am I to doubt the Greek Debt sustainability? Who am I to doubt on FinMin’s assurances that we will stay in Euro zone forever? Therefore, here is the report of IMF, ECB and EU on Greek debt sustainability as obtained by Reuters.
PS Venizelos’s national appeal reminds me of one slogan chanted by Greek protesters to Greek politicians “Bring the Stolen Money Back”. No wonder nothing works in this country of deaf…
Video: in Greek, after 1:40 min.
sources: Venizelos statements
I do not believe anyone should tell anyone else what to due with their lifes’savings but just for arguements sake what if those who did move their money out of the banks put it back as the fin min suggests, and keep in mind what our present unelected government did this morning changing the constitution without a public vote, what would stop them once the money is in the banks they turn around and nationalize the banks seize the money and claim it is for a national emergency. If you think this could not happen just look at everything that is happening now we never thought would be possible. I am very disappointed right now at what is happening to my homeland.
of course, there are people who use their savings to cover daily basic needs after they met the ghost of unemployment.
-Fat chance! Not as long as the State is robbing us blind to keep the status quo.
-Xiotie’s scenario is very realistic too.
-And I see another scenario coming: In a couple of weeks a plan will be suggested to introduce a amnesty for all who bring their money back into the country. Amnesty for those who did not pay taxes over it. With just a fee (say 1% of the total sum) the money will be legalised. Same procedure that is now going on for the illegal extensions and illegal buildings here in Greece.
In that case this whole deal from yesterday would be nothing more than one big money laundering scheme…
guys, your scenario imagination has no limits….
We are just thinking outside the box. Something our politicians seem not to be able to at all. Still, that’s the only way we will ever get out of this mess.
Amen AntonisX