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How Does a Country Set Withdrawal Limits On All Its ATMs at Once?

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On July 5, Greece will hold a referendum to decide their financial future. After amassing massive debt after the financial crisis, the country has been taking loans from the European Commission, the European Central Bank, and the International Monetary Fund. These entities have imposed strict austerity measures that have hampered growth, and the vote on Sunday will decide whether Greece will continue to play by the lenders' rules or if they will go against them, leading to a likely debt default and a possible expulsion from the euro.

In the meantime, the Greek financial stability council has issued a withdrawal limit of €60 per day on ATMs across the country to prevent panicked citizens from bleeding the banks dry (foreigners are exempt from these limits). But how does a country just all of a sudden put a cork in thousands upon thousands of ATMs? The short answer, is they don't.

“As far as how ATMs work, and how ATM networks work, individual operators control their network and the software that runs on it," says Jeffrey Dudash of NCR, a U.S.-based ATM manufacturer. No individual government official can press a button to set a country-wide withdrawal limit, they can only make the decision and enforce compliance however possible.

“There are some ATM systems that will be able to run on software and distribute software from a central location," Dudash says, but those are controlled by the ATM owners and operators. "Sometimes on older ATMs it has to be done on a case by case basis where a technician will have to go out to a location and manually load the software onto it.” Meaning there were probably some busy ATM technicians across Greece this week.

And what if an ATM operator decides they want to secretly keep their machines pumping freely, unbound by any governmental restrictions? “I can’t speak to that,” says Dudash. €60 it is.

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10 Highest Grossing Movie Franchises of All Time
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Disney/Marvel Studios

Though it has yet to even open in U.S. theaters, box office analysts are already predicting that Black Panther is going to devour President's Day weekend, with an anticipated $170 million in ticket sales on the line. While it’s still got a ways to go to make the more than $1.51 billion that the original The Avengers film earned in 2012, this latest film in the Marvel Cinematic Universe will only ensure the franchise's dominance of Hollywood's pockets well into 2018 and beyond. Here are the 10 highest grossing movie franchises of all time, based on worldwide box office.

1. MARVEL CINEMATIC UNIVERSE

Worldwide Gross: $13,508,505,227

Though it seems a bit unfair, the whole of the Marvel Cinematic Universe—including The Avengers, Iron Man, Captain America, and Guardians of the Galaxy movies—is officially a single franchise in Hollywood's eyes. Which makes it a tough one to beat, with 18 (and counting) films in the past 10 years, led (financially-speaking) by The Avengers ($1,519,479,547), Avengers: Age of Ultron ($1,408,218,722), and Captain America: Civil War ($1,153,304,495).

2. STAR WARS

Daisy Ridley and Mark Hamill in 'Star Wars: The Last Jedi'
Jonathan Olley, Lucasfilm

Worldwide Gross: $8,926,689,927

Though it's been more than 40 years since the original Star Wars film hit theaters and entranced moviegoers, since Disney purchased the franchise in 2012, they've been making up for lost time with new entries in the original space opera, plus a bunch of standalone series—including a recently announced new one courtesy of Game of Thrones creators David Benioff and D.B. Weiss. While it may take the Mouse House a couple of years to match Marvel's quantity of films, at the rate they're cranking them out, we probably won't have too long to wait.

3. HARRY POTTER

Worldwide Gross: $8,532,684,345

The big-screen incarnation of J. K. Rowling’s boy wizard has proven to be just as profitable as the book version. Since 2001, nine movie adaptations have been released, beginning with Harry Potter and the Sorcerer’s Stone. While nearly all of them—including 2016's Fantastic Beasts and Where to Find Them—have approached the $1 billion mark, 2011's Harry Potter and the Deathly Hallows: Part II brought in the biggest profit, with a worldwide take of $1,341,511,219. With two more Fantastic Beasts movies on the way in the next two years, this box office behemoth shows no signs of slowing down.

4. JAMES BOND

Daniel Craig stars at James Bond in 'Spectre' (2015)
Metro-Goldwyn-Mayer Pictures/Columbia Pictures/EON Productions

Worldwide Gross: $7,077,929,291

While "Who will play the next James Bond?" is a question as old as this movie franchise itself, one thing that's never in question is 007's ability to attract an audience—and he only seems to be getting better with age. Bond's Daniel Craig era has seen some of its most critically acclaimed, and profitable, entries in the series, which kicked off in 1963 with Dr. No. But the franchise’s high position on this list is largely thanks to 2012’s Skyfall, which earned $1,110,526,981 around the world.

5. THE LORD OF THE RINGS

Worldwide Gross: $5,895,804,182

First, it’s important to note that Peter Jackson’s Middle Earth franchise includes not just The Lord of the Rings trilogy, but all three of The Hobbit movies as well. While the former series might be the more critically acclaimed of the two, when all is said and done, both series contributed to the franchise’s position here: Among the six films, 2003’s The Lord of the Rings: The Return of the King ($1,141,403,341) and 2012’s The Hobbit: An Unexpected Journey ($1,017,003,568) are the two biggest moneymakers.

6. FAST AND THE FURIOUS

Worldwide Gross: $5,139,434,105

It’s possible that even the producers of the Fast and the Furious series themselves are a little surprised by just how popular the franchise has become, with eight adrenaline-fueled films that seem to grow more popular with each entry. While the first film in the series, 2001’s The Fast and the Furious, made a respectable $206,512,310, 2017's The Fate of the Furious made nearly six times that amount—a grand total of $1,237,466,026. So it should come as no surprise that two more are already in the works.

7. X-MEN

Stephen Merchant and Hugh Jackman in 'Logan' (2017)
Ben Rothstein - © 2017 Marvel. TM and © 2017 Twentieth Century Fox Film Corporation

Worldwide Gross: $5,016,911,347

Though the X-Men are a Marvel creation, they're treated as their very own (mutant) entity in the box office world. Which is particularly impressive when you consider that the franchise's 10 films (and counting) have generated enough dough on their own to compete at the same level as their cinematic parent. While 2017's Logan made an impressive $615,577,068 at the box office—and managed to be that rare comic book movie that scored an Oscar nomination for its script—it's Ryan Reynolds's Deadpool that's leading this series in box office dollars, with a worldwide gross of $801,029,249 on the first movie. Given the excitement that's already surrounding this May's sequel, expect that number to climb even higher.

8. SPIDER-MAN

Worldwide Gross: $4,858,770,389

Sam Raimi’s 2002 Spider-Man kicked off a new era in comic book moviemaking with its audience-friendly mix of action, humor, and just a little camp. His final film for the series, Spider-Man 3, earned the most money of the bunch, with a box office total of $894,860,230. Two reboots later, audiences don't seem to be tiring of the ever-changing web-slinger; 2017's Spider-Man: Homecoming took in a not-too-shabby $880,206,511 (and a sequel is already in production for 2019).

9. BATMAN


© TM & DC Comics/Warner Bros. Entertainment Inc.

Worldwide Gross: $4,572,000,197

Though the final tally above represents more than a quarter-century of Batman movies—going back to Tim Burton and Michael Keaton’s 1989 original and spanning the less memorable Val Kilmer and George Clooney years—the real earnings in this franchise have come from Christopher Nolan’s reboots. In fact, 2012’s The Dark Knight Rises earned $1,084,439,099 on its own, accounting for nearly one-quarter of the franchise's entire haul. And in case you're wondering: yes, 2016's Batman v Superman: Dawn of Justice is officially part of the franchise.

10. PIRATES OF THE CARIBBEAN

Worldwide Gross: $4,505,013,091

First it was a Disney theme park ride, then it was a box office smash success and one of the few times that Johnny Depp agreed to make a truly “commercial” film. But over the course of nearly 15 years, from 2003 to 2017, the swashbuckling series has managed to plunder more than $4.5 billion in ticket sales—even if its most recent entry, 2017's Dead Man Tell No Tales, was one of its least impressive earners with (a still-impressive) $794,758,876.

All figures courtesy of The Numbers.

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Big Questions
Do Olympians Have to Pay Tax on Their Medals?
JUNG YEON-JE, AFP/Getty Images
JUNG YEON-JE, AFP/Getty Images

An athlete can train for his or her entire life for an opportunity to compete in the Olympic Games, but victory is never assured. The only guarantee? If you do win, your state government is going to want a piece of the action.

In the United States, medal winners are no different from lotto prize recipients or someone who hits a jackpot in Vegas. The prize is considered income, and income gets taxed. The federal government used to take a chunk of the cash, up until President Barack Obama abolished the so-called "victory tax" in 2016. That leaves only state taxes.

But it’s not really the actual medal that has to be reported—it’s the money awarded by the United States Olympic Committee.

In recognition of representing the United States with a victory, the USOC gifts gold medalists with $37,500; $22,500 for silver; and $15,000 for bronze. That’s the amount that gets earmarked for review as income, with the rate depending on the sum of the athlete’s total earnings.

A good accountant can probably find a way to deduct training expenses, reducing an athlete’s net income. On a state by state basis, athletes might also benefit from politicians lobbying to strike the winnings from being tax-eligible. In Pennsylvania, for example, Rep. Marty Flynn (D) has introduced a bill excluding Olympians and Paralympic athletes from taxation. Until then, anyone from PA who takes home gold will have to set aside about $1100 for the state.

It could be worse. For the 2016 Summer Games, Britain—which placed second in the number of medals won overall—didn't pay its athletes a cent.

Have you got a Big Question you'd like us to answer? If so, let us know by emailing us at bigquestions@mentalfloss.com.

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