If this is done in Greece, it will kill banks all over the world. Capital flight from banks will be huge.
“If this is done in Greece, it will kill banks all over the world.”
I suspect it is more likely to kill the flight of capital to the offshore banking industry. This may will serve as a wake up call to those who believe stashing cash in some two bit island is a hedge against financial risk here.
They already took 10% a year or so ago.