government will issue ious and those will circulate. it s possible that banks will evolve their own currency. reporter: desperate and unprecedented moves that could if greece fails to get a deal be implemented any day now. pope francis will visit a children s hospital in the coming hours. he is in paraguay. the pope has used the trip in part to criticize global capitalism and promote economic policies that assist the poor and he is not mincing words about how he feels. translator: an unfettered pursuit of money rules. that is the dong of the devil. the catholic leader is addressing gay rights issues. later today he will sit down with several hundred community activists in paraguay including
won t budge too much. if he doesn t, concern on monday there will be no money at atms and that s the concern. will people have to issue ious? will they have to cut on deposits? they want to avoid that. today, they will be here on the streets. behind me, protesting to show europe they are serious. there is growing concern that the prime minister may have pushed things too far. isa soares thanks. this morning, donald trump lashing out one by one. he took aim at hillary clinton. the former secretary of state head told cnn she was disappointed in the description of mexican immigrants. trump talked about her dodging questions about the e-mails.
supermarket yesterday. it was practically empty. people cannot pay suppliers. it is a deep freeze. they know time is running out and this is really it john. and probably not many goods there. people flocking to the atms. isa soares thank you. european stocks down slightly right now. u.s. stock futures are higher. the stock market is closed in athens and the banks remain closed through wednesday. thursday they are expected to open up. there is no guarantee. the country tumbling toward bankruptcy. that would mean leaving it s eurozone. it would not use euro. it would have to print paper ious. the discussion at the government level how do you use ious for currency? there is some hope that european
so historically when countries are in the situation greece is in and it s happened throughout the world throughout history, what they re going to move from one currency to another, they run into financial problems. what tends to happen is they start printing up ious to pay government workers and things like that. then if they can t get the situation resolved the ious end up being, you get an iou and go to the stores and the owners says i ll take this. maybe it says it s worth0000 euros. they ll say we re only going to give you 50 euros worth of product because we re not sure about this thing. it becomes what they call a proxy currency. hopefully the situation doesn t last long and eventually everybody gets back to using the real currency. if things don t work out, that s usually so when people think about going to a new currency, they think it s an instantaneous thing, it s usually an unwilling evolutionary process. could be reality. michelle, thank you for the
i think the greek people have one idea in mind and that is the option to only staying in europe. they have to suck it up to be completely honest. i don t think they are contemplating a position of getting out of the europe. but as nina pointed out is all it takes is a small accident for that to happen. if there is no money coming to the banking system what that will mean is they will have to issue their own currency or ious and that practically means they will be making it impossible to stay in the eurozone. so a very delicate situation at the moment. but greece is going into these euro group meetings knowing it s make or break and they will have to make some sacrifices here. but also i think they will continue to push hard on debt relief which is something they always push hard on.