Kasz216 on 23 February 2012
| Mr Khan said: It is interesting that Europe is seeing somewhat of a power-grab by the banking sector in Greece and in Italy, with Greece essentially being forced into modifying its entire legal structure to become a debtor state I sincerely doubt this is anything anyone wants, aside from the bankers. |
Have you seen what happens if they default.
Worst case scenario essentially turns greece into a third world nation as they can't even afford food and basic medical supplies.
A greek default isn't pretty, but it's better then the alternative.
It's where the greeks put themselves, by being a true debtor state for god knows how many years... going to the lengths of hiding their debts with accounting tricks.
I mean, BEST case scenario is likely a 15% GDP Decline in just the first year, if we assume that the EU Will let them stay .
