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Sunday, July 26, 2015

Greek Capital Controls To Continue For Months

Reuters reports, not unsurprisingly, that Greek capital controls are going to remain in place for months until Greece is bailed out again.

The ongoing capital controls are strangling the economy and thus increasing the amount that Greece will need as a bailout. The banks alone will require Euro25BN at the very least to be recapitalised.

I wonder if anyone seriously believes that a third bailout, given the amount and restructuring required, will actually ever come to fruition?

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