We cannot allow the bankruptcy of a euro member state like Greece to turn into a second Lehman Brothers.
Wolfgang Schauble Quotes
Greece's debts are all denominated in euros, but it isn't clear who holds how much of those debts. For that reason, the consequences of a national bankruptcy would be incalculable. Greece is just as systemically important as a major bank.
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Comments on: "Wolfgang Schauble Quotes: Greece's debts are all denominated in euros, but it isn't clear who holds..."
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This much is true: When we created the euro, it wasn’t possible to create a political union along with it. People weren’t ready for that. But since then, they’ve grown more willing to go in that direction. It’s a process, one that is sometimes laborious and sometimes slow. But it’s important to keep the populations involved.
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