stockdoc9999 March 24th, 2013 at 6:47 pm
The tottering banks hold 68 billion euros in deposits, including 38 billion in accounts of more than 100,000 euros – enormous sums for an island of 1.1 million people which could never sustain such a big financial system on its own.
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So … they shouldn't make any deals to save it. Defaulting and starting over at a level appropriate to the size of their own economy makes the most sense.
March 24th, 2013 at 6:47 pm
The tottering banks hold 68 billion euros in deposits, including 38 billion in accounts of more than 100,000 euros – enormous sums for an island of 1.1 million people which could never sustain such a big financial system on its own.
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So … they shouldn't make any deals to save it. Defaulting and starting over at a level appropriate to the size of their own economy makes the most sense.