Sunday, September 25, 2011

President of Central Bank: Greek Bankruptcy One of our Scenarios

Klaas Knot, the new President of the Dutch Central Bank (DNB) said that the bankruptcy of Greece is one of the scenarios the bank works with. He wondered whether the Greeks see the seriousness of the situation. It is doubtful whether their authorities are competent enough and their politicians have enough control over the country. Knot is the first president of a European Central Bank to speak so clearly about a possible bankruptcy of Greece. Such statements are highly unusual for a central banker, the more so as Knot is also a member of the board of the European Central Bank.

No comments: