"This process almost always ends the same way," writes Michael Pettis. Short of Germany...

|By:, SA News Editor

"This process almost always ends the same way," writes Michael Pettis. Short of Germany guaranteeing the deposits of the Greek banking system, it looks like weeks, maybe months, until Greece freezes deposits and exits the euro. With the rest of the continent reading the papers, the EU better have a plan to stem what will surely be a periphery-wide bank run.