Stunned Greeks React To Initial Capital Controls And The “Decree To Confiscate Reserves”, And They Are Not Happy…(Let’s Not Mock Greece. Account Seizures Will Happen In The U.S. Soon Enough.)

Monday, April 20, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
04/20/2015

Several hours after the Greek government decreed the confiscation of local government reserves, this order has finally percolated among the population, and the response to what even ordinary Greeks realize is now the endgame, is less than exuberant. Bloomberg reports, that “as Greece struggles to find cash to stay afloat, local authorities say they oppose a government decision to use their reserves for short-term financing.” “The government’s decision to seize our reserves not only raises legal and constitutional issues, but also a moral one,” said George Papanikolaou, mayor of Glyfada, the third-largest municipality in the metropolitan region of Attica after Athens and Piraeus. “We have a responsibility to serve our citizens,” Papanikolaou said by phone on Monday. Glyfada has about 16 million euros in cash reserves, he said.

The Rest…HERE

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