“And who picks up the tab?”
The large banks in Greece have a lot of capital from the EU through the ECB, and from the IMF which includes $’s from you and me. If you were a Greek bank and knew the end was near and that the current rules regarding reserves and paying back the creditors would be irrelevant in a few weeks, what might you do? Perhaps you would hand out your remaining money to Greeks—especially those who might befriend you later but anyone you have to face once the rest of Europe abandons you.
you say a few weeks. this greek tragedy has been going on for years, with the talking heads on cnbc endlessly talking about greek bailouts that you keep saying, I thought that bailout was last week.
it will never end.