Well what would happen is that if Greece defaulted and couldn't pay its debts, all the Greek bonds that are held in other banking systems across Western Europe would suddenly have no value. You could as a knock-on effect create a banking crisis in Western Europe.
John MajorIt is time to return to those core values, time to get back to basics: to self-discipline and respect for the law, to consideration for others, to accepting responsibility for yourself and your family, and not shuffling it off on other people and the state.
John Major