Quote:
Even by the recent standards of the eurozone, Friday 13 January has been a messy day.
What may turn out to be most important is that the Greek government moved nearer to a formal default on what it owes, as talks collapsed between the Greek premier, Lucas Papademos, and representatives of banks on a voluntary 50% reduction on what they are repaid.
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http://www.bbc.co.uk/news/business-16556860
Some of those 'rock solid' Eurozone banks are going to have to take a major 'haircut'*....
*
http://financial-dictionary.thefreed...ry.com/Haircut