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Because that would be an illegal act, not conforming to the Treaties.

Of course, they may declare the Bank of Greece insolvent...

In any case, cutting of a country from the international payments system is about as hostile as a physical blockade or a siege. It's the kind of thing the US attempts to do on Iran, who could have predicted that the Eurozone would do it on an EU member state?

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Carrie (migeru at eurotrib dot com) on Mon Jun 29th, 2015 at 06:09:14 PM EST
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