I understand what was told then and I understand it is a fair pont.If one bank is allowed to fail though then it would have huge knock on effects for that country (and others).... people and businesses who have money in that bank and others who lend to any bank that goes under could find themselves in huge amounts of trouble. Whatever political ideals you have, it would just cause a catastrophe!
Well, I'm just not sure about it and much could be made to limit the effects of doing something different. There are funds that insure the cash you deposited and the governments could create temporary credit lines to keep things running smoothly.
Now, let's face it if you lended money to a bank that is in trouble, the minimum you have to do is securize that asset. And it's a private bussiness between privates
Well, it wasn't the option made and one can only make wild guesses, but you can see clearly that what was done was to sweep the huge debts that some banks had and they were transferred to public debt. Let's face it: the money was missing somewhere and what was made was to move this massive whole.
As someone once said, there is only microeconomy and bad economy
It's really hard to say what's for the best...
Not so substantial, but in my opinion if the EU economy lifts, we should be ok. A chance to buy debt from these countries?'A couple of fairly substantial economies, Ireland and Portugal, are teetering on the brink of collapse'.
