by NBC's Dave Carl
Is Greece on their way out of the European Union? The cradle of modern democracy faces a huge vote on Sunday to decide just that. A new political and economic system could spark economic fires across Europe and the world. Economist Zachary Karabell, a contributor for Newsweek and The Daily Beast, runs through some potential outcomes of Sunday’s vote, and the EU’s possible contagion plan.
In preparation for Sunday’s vote, many Greek citizens have withdrawn their cash from banks and stocking up on supplies. CNBC reports that the amount withdrawn could be as much as 800 million euros.
As the economic crisis grows, many Greeks are forced to abandon money altogether. NBC’s Yuka Tachibana reports on the rise of bartering in Greece.
While much of Europe falters, the one economic stronghold has been Germany. But msnbc.com’s John Schoen warns that Germans are growing tired of being Europe’s economic crutch.