“…Jan Kees de Jager, the Dutch finance minister, told colleagues: “We’ve got to get real. People are talking about new defences but with one gulp the whole €440 billion could be gone, leaving the eurozone with no protection at all.”
Remember, it’s always darkest before it goes completely black…
Also of note: The article goes on to say that the IMF refuses to fund their part of the bailout unless the banks take 50% haircuts on their Greek debt. All voluntarily, of course.
