With Greek voters saying No to the reforms, the countrys most vital challenge is to keep its banks operating. That is manageableprobably, but just barely. The bank problem is not insolvency, but illiquidity. Insolvency would occur if banks were holding many bad loans. The banks assets, at true value, would not be as great as their liabilities, which are deposits and other obligations. The Greek banking problem, though, is different....
Showing posts with label Greece. Show all posts
Showing posts with label Greece. Show all posts
Monday, July 6, 2015
Sunday, July 5, 2015
Voting Winds Down in Greece Amid High Anxiety
Correction appended, July 5Greeks went to the polls Sunday to cast their votes in the first referendum there in four decades, which may decide the countrys fate as a member of the euro currency.But fears of a lengthened closure of all banking institutionsregardless of the outcome of the voteare rife in Greece following a week of shuttered banks and uncertainty. ATMs are said to be running out of money, and already many are only...
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