Volker Wieland on the bank closure in Greece ("Die Welt")

The Greek government has imposed a bank closure until July 6. The newspaper "Die Welt" looks at the economic consequences.

"If the Greek government accepts a reform program after the referendum, a one-week bank closure will not have severe consequence," Volker Wieland said. However, if the Greek government decided to introduce a new currency this could lead to massive distortions.

(Die Welt: "Wir erleben erst den Beginn einer Katastrophe")
(Die Welt: "Warnung vor katastrophalen Folgen der Bankenschließung")