The outlook for Greek banks remains sharply negative, says Moody's, with their exposure to...

|By:, SA News Editor

The outlook for Greek banks remains sharply negative, says Moody's, with their exposure to government paper "rendering most ... economically insolvent." A 50% haircut on Greek debt would generate capital needs of €20-€30B&nbs... current capital of €27B), a figure neither shareholders nor the government can meet. Next step, EU, IMF, and nationalizations.