For several months now the Greek government and the European Union have been doing this dance. On one hand, Greece is hopelessly in debt. On the other hand, the European Union has been imposing draconian sanctions which make it nearly impossible for Greeks to live a normal European life. Something has to give. It is unclear exactly what will happen to the US Economy as a result of this crisis. (Krugman lays out his thoughts here.)
From the New York Times:
Prime Minister Alexis Tsipras announced Sunday night that Greece’s banks would be closed as of Monday, as the fallout from ruptured debt negotiations with the nation’s creditors began inflicting pain on ordinary people while raising alarm in Washington, Brussels and Berlin.
The emergency measures escalated the confused and unpredictable state of a crisis that some analysts say could ripple through global financial markets and undercut European unity. Most Asian markets opened lower on Monday.
Obama delivered a GREAT eulogy for those who died in Charleston, SC.
Singing the words to “Amazing Grace” in a deep and powerful baritone, President Obama delivered an impassioned eulogy to honor the life of Rev. Clementa Pinckney and the tragedy of his fatal shooting – a historic moment from the nation’s first black president in addressing the “uncomfortable truths” about prejudice and racial bias still alive in America.
The president spoke before thousands of mourners gathered across Charleston on Friday to pay their final respects to Pinckney, one of the nine people fatally shot in the massacre at Emanuel African Methodist Episcopal Church during a prayer session last week.
“Maybe we now realize the way racial bias can affect us even when we don’t realize it,” Obama said, drawing the crowd to their feet. “So that we search our hearts when we consider laws that make it hard for some of citizens to vote. By recognizing our common humanity, by treating every child as important regardless of the color of their skin and the station into which they were born and to do what is necessary to make opportunity real for every American.”