Sadie sends along a pair of articles about Greece that sort of go together
From Sadie (Thank you!):
If Greece defaults, American banks will be on the hook for $41.4 billion, according to Bank for International Settlements data. But U.S. banks are dangerously undercapitalized. Where are they going to get that kind of money from?
And it gets worse. If Portugal collapses, American banks would be forced to pay up an additional $46.5 billion, according to Kash Mansori at The Street Light blog. If Ireland goes bad, they would need to find another $105 billion.
The Greek government will finance the reconstruction of building structures into mosques for the Muslim community in Athens. Estimated to cost less than 15 million, the existing plans for the mosque will serve 500 faithful Muslims.
DQ here. I suppose there are all kinds of things that could be said here and I invite you to say them.
