Report: Germany has proposed a plan to protect banks in case Greece defaults.

Written September 9, 2011 at 11:11 AM EST by  

There are no details to what the plan will be but the fact they have a plan, is moving closer to a default. 

Worries in the market are that there are a number of banks who would be seriously effected (perhaps insolvent) if Greece defaults.  This in turn could also lead to a series of secondary effects that could lead to the house of cards falling down.

The fact that Germany “has a plan” is comforting from one point, but worrisome from another.  What if the plan is not strong enough?

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One Response to “Report: Germany has proposed a plan to protect banks in case Greece defaults.”

  1. j gordon on September 9th, 2011 12:38 pm

    It will happen , Greece will default . The politicians want to bring it in without much panic.

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