Quote:
Originally Posted by GP_Matt
If Greece leaves the Euro and reverts back to the Drachma would the government try to convert the funds in everyone's bank accounts? And if so, would their debt be converted as well? It would be pretty terrible if they converted their savings but not debts. Leaving them to pay off their personal debt in Euros with Drachmas that are dropping in value.
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Are you talking about personal debt or government debt?
Personal debt would be converted because it would more than likely be with Greek banks etc.
Government debt is a different thing and the cause of the problem. The whole thing will come to a head when the EU refuses to give them more money for not pushing through the austerity measures, at that point Greece defaults on what it owes and has no money to pay its bills, basically bankrupt. Then things get really messy and interesting.