Global Banking is What's in Crisis

``What we have come to call the Greek crisis is, first, an international banking crisis. Like Lehman Brothers, Greece is definitely not too big to fail. It is too interconnected to fail, too interconnected to the international banking system, too interconnected to the political ambitions of those who have spent decades replacing the system of nation states with a united Europe.'' -- We like the stat in here where the Greek banks would have to mark down by half the 70 bln EUR they hold of their own governments debt, were default to happen now.