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The Euro Crisis Returns
Time for a Bank Run in Greece
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  • Curious Mayhem

    There’s also the issue of what happens to the Greek debt which is held mostly in “official” hands (EU, ECB, IMF). If the Greeks leave the eurozone, they will redenominate bank accounts, debts, and so on in drachmas, which will promptly lose 30-50% of their value.

  • Bob

    Panic early and often.

  • ljgude

    Based on past performance the EU will cave. The tender feeling of the German voters are irrelevant. WHat will they do? Put the Social Democrats in power who are even more committed to propping up the EU than Ms Merkel? Better to paper over the Greek debt once again that face reality.

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