A listener asks and we answer.
Greece avoided driving a really broken-down, rickety car into a wall. But they are still left with the broken-down rickety car and no solution.
— Tony Fratto, managing partner at Hamilton Place Strategies and a Treasury and White House official under President George W. Bush.
U.S. OFFICIAL SAYS DOES NOT EXPECT QUICK RESOLUTION ON GREECE AFTER ITS ELECTION, EVERYONE IS AND SHOULD BE WORRIED ABOUT CONTAGION AND POSSIBILITY OF BANK RUNS
— These cryptic alerts in all caps are the scariest kind. - Uri Berliner, Planet Money editor
What if you were a eurozone finance minister and your job right now was to protect your financial system in case of a Greek exit?
1. Add up how much money your country’s businesses have on the line in Greece.
2. Call your lawyers in London.
3. Get cozy with the European Central Bank.