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Greek banks face full nationalisation
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http://www.bbc.co.uk/news/business-33595861
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So what has gone wrong? Have the Greek banks been taking mad credit risks? Have they been lending recklessly as though there were no tomorrow - in the way that sank the banks of most rich developed countries in 2008?
If only. Credit has been almost impossible for businesses and individuals to obtain for months.
The banks have been sunk by the collision of Greek democracy and dysfunctional eurozone governance.
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Another ringing endorsement...