How much will a financial bailout cost Greece? How about its independence as a nation? TheFinancial Times reports (article by Peter Spiegel, Quentin Peel and Ralph Atkins) that European leaders are negotiating a deal that would lead to unprecedented outside intervention in the Greek economy, including international involvement in tax collection and privatisation of state assets, in exchange for new bail-out loans for Athens. This solution is that austerity could be imposed from outside by the EU. Greece would, temporarily, not have its own government.
UPDATE: Mish reports that a run on Greek banks is taking off.
That's national sovereignty, not monetary sovereignty. The voluntary surrender of monetary sovereignty to join the EMU is lead to loss of national sovereignty as a result.
UPDATE 2: Yves Smith — Will Greeks Defy Rape and Pillage By
Barbarians Bankers? An E-Mail from Athens
UPDATE 3: Military coup possible in Greece
The U.S. Central Intelligence Agency warned in a report that the tough austerity measures and the dire situation could escalate and even lead to a military coup, according to a report by Germany’s popular daily Bild.
According to he CIA report, ongoing street protests in crisis-hit Greece could turn into escalated violence and a rebellion and the Greek government could lose control, said Bild. The newspaper said the CIA report talks of a possible military coup if the situation becomes more serious and uncontrolled.
(h/t Zero Hedge)