Quote:
Originally Posted by Slava
Except for that whole sovereign debt issue. You know...the one where Greece needs a bailout, and there are all kinds of other countries who have either already been bailed out or might need to be. Otherwise though, sure, its a banking issue.
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Greece was an issue because French Dutch and German banks held their debt. That was the issue, Merkel, Sarkozy and a Dutch guy explaining to their electorate why some of their banks went belly up and why their pension funds took a bath.
Now that these banks dont hold the poo bag anymore and German/French pensioners (probably the most influential electorate in the world) are safe, Greece might as well be kicked out of the eurozone.