[–] [deleted] 0 points 2 points 2 points (+2|-0) ago
[–] mscomies 0 points 4 points 4 points (+4|-0) ago (edited ago)
Not really. If Greece walks away from over 300 billion Euros worth of debt, they're basically never ever going to be able to sell government bonds or take out a loan ever again. It's also uncertain whether foreign investors will be willing to accept payment in Drachmas. Currencies are backed up by the governments that issue them, and nobody has much trust in the Greek government anymore.
Unfortunately, there are no good solutions for Greece. I personally think that no matter what happens, they'll end up as an economic cautionary tale, like Zimbabwe's lost battle against hyperinflation.
nobody has much trust in the Greek government anymore.
All the more reason to walk away and not pay. They already have bad credit.
[–] Broc_Lia 0 points 1 point 1 point (+1|-0) ago
Also, they had a tiny population and absolutely enormous local cash reserves in said banks due to being a tax haven. I strongly suspect that anyone/thing that had their savings in a greek bank withdrew it a long time ago.