When does the “haircut” come?
Cyprus is in our future, too.
Why would Greeks still have any of their money in banks, after what happened in Cyprus? One can’t help but wonder if the Greek economy has a lot of off the books activity by now. Might be better off just not paying the loans and starting over.
I was just giving some advice yesterday, telling them to make sure that they have some cash on hand in a secure and accessible place. That the bank freeze and haircuts are a real possibility.
This Senior Manager looked at me like I had 2 heads....
It is sad how unprepared folks are going to be when the inevitable happens.