Greece Introduces Capital Controls on Banks
TANK: Let's go back to our top story now, the financial crisis in Greece. With no deal in place and banks shut for a week across the country. Let's get the reaction to all of that from Athens. Our Richard Quest does join us this time, at least I hope so. Richard, you know, I wanted to talk to you about how this is feeling for people in Greece. It seems right now that whichever way you turn, it's hardship, it's difficult.</s>RICHARD QUEST, CNN INTERNATIONAL CORRESPONDENT: Oh, absolutely. It is not only hardship and difficult, it is going to get worse. And that has been acknowledged by the Europeans, but at the same time at the European center in Brussels they're also pointing out they're getting quite cross in Europe, because they are basically saying that no longer can the Greek people be allowed -- or the Greek government be allowed to have their own view to the Greek people. For instance, Jean-Claude Juncker, the president of the commission, said that the plan never even mentions cuts in pensions. And he said it three times. He talks about the egoism of the government here in Greece. And I think what that shows is a complete breakdown of relations, very uncordial, very unprofessional, certainly undiplomatic, between what's happening here in Greece and with Brussels. Have a listen to Jean-Claude Juncker, the president of the commission.</s>JEAN-CLAUDE JUNCKER, PRESIDENT OF THE EUROPEAN COMMISSION: For me, Greece's exit of EuroZone has no (inaudible) and will never be an option. But I always told them my Greek friends that by saying that Grexit is not an option they shouldn't believe that at the very end of the process I will be able to present against all the others a final answer and the final solution.</s>QUEST: But the problem, of course, is the discrepancy between the words and the reality. I'll give you one example, very late last night, Yanis Varoufakis, the Greek finance minister, tweeted that capital controls were a contradiction in terms and were not a concept that the Greek government were considering. Within five hours, those controls were in place. The reality, the rhetoric and the situation is rapidly spinning out of control.</s>TANK: So, what do you make of it, then, Richard, because there are lots of people who are asking, you know, is this almost like a game of chicken? Are they just hoping -- is the Greek government, or Alexis Tsipras just hoping that the other side will blink this week before a referendum?</s>QUEST: Well, I think -- well, the referendum has domestic political reasons as well between the left and the right. It has an entire agenda of its own involved all the way up to the role of the president in this country. But ultimately, what do the Greek people -- now if you ask the Greek people just on the streets, they are betwixt and between, because they -- I asked them straight out, how will you vote in this referendum, many say we simply don't know. We want to stay in the euro, but we do not want the humiliation that comes with the existing European bailout plans. And that's the dilemma. Another person put it to me, do we want sudden death or do we want death by a thousand cuts? Between now and Sunday, those issues have to be crystallized in the minds of the Greek people before they vote on Sunday.</s>TANK: Richard, I would rarely do this, but I'm really curious, behind you is that actually a line at the ATM station? And can you tell us what it's been like there all day today?</s>QUEST: Oh, oh, that's easy to -- all right, so here's the ATM. There are two of them, one just over there, one over here. The ATMs -- now, if you have a foreign or an international ATM card you can take as much money out as your bank will allow, more the merrier. Fill your boots, as they say. However, if you are Greek you are restricted, and you are restricted to the princely sum of 20 euros, 20, 40, 60 euros a day. Now, that's about 67 dollars. How long does that 60 euro limit stay? If the ECB turns on the taps and starts funding things like the National Bank of Greece again, then the money flows out the machine -- money in the back, money out the front. If, however, nothing changes, if it stays the same, then the 20 euros remains for the foreseeable future. And remember, if you look back at Iceland and you look back at Cyprus, both of whom introduced capital controls, supposedly for a short period of time, that period ran into years.</s>TANK: OK, Richard thanks very much to you and the rest of the team. For the explanation, the visuals, it's a very complicated situation, but let's see how things go this week. Now, SpaceX is trying to figure out what went wrong with its latest mission. As you can see, the Falcon 9 rocket lifted off on Sunday, but just two minutes it broke apart. Well, the SpaceX CEO Elon Musk says investigators are trying to recover data from the final milliseconds of the flight. The private company was carrying supplies to the International Space Station, something it has done successfully seven times already. But while this is the first cargo launch failure for SpaceX, it is the third such loss in nine months. Well, the ISS commander Scott Kelly was watching from orbit when the SpaceX rocket exploded. He tweeted, "today was a reminder that space flight is hard." NASA says that Kelly and his two station crew mates have enough food and water to last until October. But don't worry, the next resupply mission is scheduled for Friday. So, what was lost with the Dragon spacecraft? Well, it was carrying a new docking device and water filtration system. And NASA says that it lost a lot of important research equipment, that includes two hololens headsets. Microsoft was working to bring augmented reality to astronauts for future use in training and also for repair work. The Microsoft CEO Satya Nadella tweeted to NASA that he's ready to try again. And that is News Stream. I'm Manisha Tank. But don't go anywhere. World Sport with Amanda Davies is next. END