it represents 17.5% of their economy. there are questions raised that the greeks have a cash crunch. can the islands pay for jet fuel going back into europe and other destinations. right now jet fuel, fuel for the ferries going back and forth, even medical supplies. this is quite a dire situation, and it raises a number of questions, depending on what happens after the big vote on sunday and how the imf treats this nonpayment, perhaps, taking place on tuesday. and just a quick final question for you, john. breakups are never easy, are they? you know the relationship is over, but you still have to collect your stuff from the place. and follow each other online. the greek government with its finances couldn t get its act together. the ecb and creditors couldn t find a deal that was proper for them, and so essentially, we re watching this slow-motion breakup. do you think a grexit is inevitable? quell shlgwell, i think coul
that was not in place. the biggest concern is what will follow if things do not manage to stick together. and what s going to be interesting is the result of the referendum. if the greek population ends up voting yes and someone suggests there may be more yes votes than no votes, then obviously the government will have to change in some shape or form. and the entire structure right now, the way these negotiations happen but also the outcome suggests that we are going to have a very dramatic week. certainly. and the grexit may be the next major event. michael jacobides joining us with a quote, if you think about it rationally it makes no sense at all. we appreciate your insight today. markets in asia have been reacting to the events. let me show you this right now
not open on monday. over the weekend, people have been queueing up at cash machines and at banks across the country. our editor is joining us now with more with you this morning. greece has been in the euro for 13 years. is there really talk of an exit at this point? that s the discussion we re having this morning, becky, despite all the wrangling over the last three or four years, the word grexit is now back on to the table and in fact the last hour it was suggested that it was inevitable. there s a very important teleconference taking place as we speak, that s between the greek central bank president and his counterparts at the european central bank. you can bet that emergency liquidity for greece is on the table. what would happen if there is an exit and how do you transition a
extension. this is a period of great uncertainty and why the greek central bank is talking to the european central bank today to make sure this economy doesn t go over the cliff. we have a debt mountain that was not dealt with and there s no signs of manueverability on either side today as the greeks go to the referendum next sunday. thank for that. a grexit would have devastating effects on greece itself but it also poses threats to the euro zone as a whole. it can result in financial contagion and weaken debt-laden countries. some fear that a post grexit greece could forge closer ties with russia or china and that would upset the geopolitical balance in the west. floods of greece battling homelessness could cross into
weather? if your nation was just a few feet above sea level, you would be really worried. we ll talk with a former president of just such a nation. and why am i wiggling my fingers in a mirror here, to try to understand the wonders of the human brain. come along for an amazing tour. but first, here is my take. the attacks and counterattacks in this presidential campaign are, i suppose, inevitable. but let s be honest. they re largely untrue or irrelevant. whatever the paperwork shows, mitt romney was not running bain capital after 1999 and he if he was outsourcing jobs, it is not sleazy, it is how you run a business efficiently. on the other side, romney s recent claim accusing the president of shoveling government grants to his political supporters is so twisted that it earned him the washington post s fact checker s highest score for distortion. four pinocchios. his recent refrain that obama s views are foreign. this course is extraordinarily foreign. but it is frankly