Telegraph Live: Reports that the IMF has estimated that the Eurozone Crisis could lead to another bank bailout in the range of three hundred billion Euros. Folks in £ terms that is around one hundred and fifty billion, the UK Governments deficit. If Zombie Greece does go to the wall the French and German Banks will need to be bailed out by the their Governments. Thus more debt lifted from the banks to the State, thus more taxes folks and austerity down the line, even for Germany. Also folks its an estimate, it could be a lot worse folks, what are the banks not telling us about their Greek debt, and if these banks are hit what effect will this have on banks in the UK and US.
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