I guess I hadn’t thought that through. This does sound like a fairer deal. It also angers less people. Now I’m interested to see where it goes from here...what, if any, will the repercussions be?
Repercussions... who knows? But if I had money in a Portuguese bank, I’d probably be taking it out.
One thing I can almost guarantee is a bank run on the banks of the next country to approach the ECB for a bailout. That country best close its banks first.