Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:
I suspect that what Stark fears is that numerous banks in France, Germany and the UK will have losses that will expose the state of their balance sheets, precipitating a contagious collapse of the financial house of cards. If your balance sheet is underwater, not only do you not want to see more losses, but also you cannot accept exposure of previous losses. The fear is that a restructuring would lead to a series of events that leave them all exposed as bankrupt.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu May 19th, 2011 at 10:20:15 PM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Top Diaries

130 Years Later

by Helen - Aug 2
15 comments

From the Quiet Mutiny

by Oui - Aug 6
22 comments

Whistling in the wind...

by Frank Schnittger - Jul 17
147 comments

Always Read the Footnotes

by Cat - Aug 2
14 comments

Occasional Series