Is a run on the Greek Banks Infectious?
“Greece’s banks have lost 72 billion euros in deposits since the start of 2010, or about 30 percent, according to data compiled by Thomson Reuters. Five of Greece’s top banks saw 37 billion euros taken out last year, including 12 billion from EFG Eurobank (EFGr.AT) and 8-9 billion apiece at National Bank of Greece (NBGr.AT), Piraeus (BOPr.AT) and Alpha Bank (ACBr.AT).”
Greece’s Best Option is Orderly Default?… Nouriel Roubini writes
It is time to recognize that Greece is not just suffering
from a liquidity crisis but it is also facing an insolvency crisis..
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Wonder if “countermeasures” to current economic distress should be modeled in a manner similar to planning responses to infectious disease outbreaks. See: http://www.technologyreview.com/blog/arxiv/27856/?nlid=nldly&nld=2012-05-18