from Gold Core:
“Bailing-in” of larger deposits would have a very detrimental effect on Greece, The Economist has warned. The magazine points out that such an action would “destroy the working capital” of small and medium size businesses, which it describes as the “backbone” of Greece’s economy.
The risk that bail-ins pose to companies, trade, commerce, employment and entire economies is something at which we have looked frequently in recent months. Indeed, we think we are largely alone in focussing in detail on the risk that bail-ins pose not just to individual savers but also to millions of small and medium size enterprises throughout the world.
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