Greece's default would technically bankrupt the ECB.
"In short, the ECB’s balance sheet, which is heavily dependent on Eurozone bond prices not collapsing, is itself extremely vulnerable to the knock-on effects from Greece. As the situation at the ECB becomes clear to financial markets, the euro’s legitimacy as a currency may be questioned, given it is no more than an artificial construct in circulation for only thirteen years."They'll steal some more money to keep it afloat.
No comments:
Post a Comment