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[–]mscomies0 points
13 points
13 points
(+13|-0)
ago
It's not quite the same situation though. Iceland's issues stemmed from it's three biggest national banks failing at the same time. The creditors went away when the banks failed. Greece's issues stem from sovereign government debt which won't go away even if the Greeks overthrow their government and replace it with a new one.
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.
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[–] [deleted] 1 point 13 points 14 points (+14|-1) ago
[–] mscomies 0 points 13 points 13 points (+13|-0) ago
It's not quite the same situation though. Iceland's issues stemmed from it's three biggest national banks failing at the same time. The creditors went away when the banks failed. Greece's issues stem from sovereign government debt which won't go away even if the Greeks overthrow their government and replace it with a new one.
[–] [deleted] 0 points 2 points 2 points (+2|-0) ago
[–] 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.
[–] pipispapas 0 points 7 points 7 points (+7|-0) ago
thanks I hope we do.