06-29-2011, 03:16 PM
Thanks.
So the banks will default on their payback to the central banks? Even if that's the case, I don't know the numbers but it seems the amount that Greece borrowed must be weighed against the GDP of all in the euro zone in order to determine the significance. Also how does going back to the drachma help anything since the money is still owed?
I guess I just don't understand why Greece is "too big to fail" like the US banks were. I understand that if an entity is big enough, it can have a large effect on the economy, but is Greece's economic level really that high?
So the banks will default on their payback to the central banks? Even if that's the case, I don't know the numbers but it seems the amount that Greece borrowed must be weighed against the GDP of all in the euro zone in order to determine the significance. Also how does going back to the drachma help anything since the money is still owed?
I guess I just don't understand why Greece is "too big to fail" like the US banks were. I understand that if an entity is big enough, it can have a large effect on the economy, but is Greece's economic level really that high?