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You're right about the constitutional crisis...

I was thinking merely of the coming collapse of the euro, combined with the collapse of enough banks to create a cash crisis (as in people literally can't get hold of cash, because too many banks and ATMs have closed down...)

That's my fear. I'd agree that in principle the constitutional crisis is more important... but I feel like the crisis I fear will touch us all more directly.

by Metatone (metatone [a|t] gmail (dot) com) on Fri Aug 5th, 2011 at 05:13:26 AM EST
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The ATMs will not fail. They're all covered by depositor insurance. Those liabilities are not great compared to the total size of the problem, and the catastrophe that would result from failing to print enough money to cover those guarantees is obvious to even the dimmest of dim bulbs in the ECBuBa. The €-zone is not Iceland in this regard.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Aug 5th, 2011 at 04:12:47 PM EST
[ Parent ]
I've given up believing anything is obvious to the dimmest bulbs at the ECBuBa...
by Metatone (metatone [a|t] gmail (dot) com) on Sat Aug 6th, 2011 at 07:04:14 AM EST
[ Parent ]


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