#152: The Greek Government-Debt Crisis

The next morning, Peter finished a painting, and Ophelia was checking her email.

He then began making breakfast,

when he heard Ophelia shriek.

"What is it???" he asked, rushing in.

"I tried to pay a bill from my bank account, and I couldn't access it," she said, mystified.

"And then I checked my email, and I got a message that the bank meeting about the loan for my new photography studio in Athens--which meeting was scheduled for TOMORROW--has been canceled!  And that the bank is closed indefinitely!!  And that I'm limited to daily withdrawals of only 67 euros!!!"

"WTF???" he asked.  "That makes no sense!"

Ophelia continued to go through her email, and found several frantic messages from friends and family,

while Peter put on the news.

It turned out that, since Greece had just defaulted on a huge international loan, the country's creditors were refusing to continue their years-long bailouts, and the Greek banks--without a fresh infusion of foreign cash--had closed, leaving depositors able to withdraw only a nominal amount of money each day.

"I -- I just don't even know what to do!," Ophelia stammered, coming into the living room.

"I have to go talk to Dude!"

She went upstairs.

Peter was relieved that--despite her panic--Ophelia apparently intended actually to get dressed before leaving the house.

_______________

Alice, rocking her son, didn't understand what her husband was saying on the phone, because he was speaking Greek,

but it was clear to her that something was seriously wrong.

"Dude!" Ophelia cried as she burst through the door.

"I know," he told his cousin.  "I just got off the phone with Mama!"

"What are your parents going to do?" she asked.  "Can they get enough of their money out of the bank to live???"

"Fortunately, they have U.S. bank accounts, since they lived here for a few years, and Papa trusted the American banking system much more than the Greek banking system," he explained.

"I just have to figure out how to get the money to them."

Ophelia despaired.

"Since my own parents died," she wailed, "Daedelus and Andromeda--and YOU--are all I have for family!"

"Cousin, calm down," Dude pleaded, hugging her.  "We'll figure a way out of this."

Just then, Peter arrived (catching up to Ophelia after having thrown on some clothes).

"Let's just buy your folks some plane tickets," Peter suggested to Dude.  "Then at least we can get them here, where we know they'll be safe."