Capital Controls Unavoidable if Talks Fail: Panayiotou
Panicked depositors have withdrawn more than 30 billion euros since December. Without a deal, Greece faces the specter of capital controls and what U.S. Treasury Secretary Jacob J. Lew said would be a “terrible” economic decline. Director of the Cyprus International Institute of Management, Theodore Panayiotou, tells Francine Lacqua on The Pulse today’s talks are crucial.
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