◼ “We have no intention of leaving the euro,” he stated this afternoon, adding, “In no way will we experiment with the future of our country.” - Sarah Westwood/Viral Read
“Everyone will have to make sacrifices as our financial situation, in the violent way in which it has developed, will oblige all of us to share the burden,” the president admitted to his embattled nation today. His statement rings tragically true for wealthier foreign and domestic depositors, since his hastily-assembled bailout deal greenlights a raid on all deposits over 100,00 euros. This plan marks a historical departure from all previous euro zone rescues because it is the first time that bank depositors have been forced to accept a loss.
