My fault I used "euro" in the title. I meant eurozone or european. Capital controls are an act of desperation and none of these half measures plug the dam. Spain will be back in 2 months, and Italian bonds are over 6%. Spain could see capital controls by the end of the year.
I think nothing will happen at all, in a sense that there will be a pat again and parties start talking. Greeks are way too smart to give Northern Europe (aka Germany) a reason to stop the money showers. Most Greeks want to stay in the Euro (translation: They want all the subsidies and freebies) and I expect they will form some sort of coalition and beg everyone to make a few concessions to the bailout terms, which Germany, France, and Co will of course give into (in moderation) so everyone looks good and nobody loses face. Then we will have 2-3 months of relative calm during which time European politicians will of course do NOTHING WHATSOEVER, and then we will see the next stress again in Spain and expanding to Italy as well. Thats how I see how it will play out.
Yes they will put a happy face on this so they can all go to the beach in August. In Spain and Greece as well as the Riviera. I mean, of course. They may be foolish, but they're not crazy.
I forget where I read it, some place did an experiment and tried to introduce the concept of money with tokens to monkeys. The monkeys started catching on quickly because they started exchanging the tokens for bananas and sexual favors. haha\ What is money? Seashells by the seashore? Lets ask our friends in Zimbabwe or Argentina what money is "Not long after, the first prostitute monkey appeared" http://www.zmescience.com/research/...g-after-the-first-prostitute-monkey-appeared/
Desperate Greeks Withdraw Money from Accounts Many Greeks are emptying their bank accounts out of fear that the country may return to the drachma. But most of the money is not going abroad. Instead, individuals are storing cash in safe deposit boxes or at home -- leading to an increase in burglaries.... http://www.spiegel.de/international/europe/greeks-emptying-bank-accounts-a-839160.html