Surveying the damage
The recapitalization of Greek banks is a process that is of absolutely vital importance to the country. It is equally crucial that these banks remain in private hands.
However, the current process also provides an opportunity to realize the huge crime that was carried out over the last year or so. Greek banks would not have been recapitalized at such ridiculously low share prices if the country had remained on a steady course.
The two parties that are governing today had threatened to take former officials to court when previous recapitalizations were taking place at share prices that they can only dream of today.
We have paid and continued to pay very dearly for ignorance, experiments like Yanis Varoufakis, the referendum and everything that knocked Greece off its course toward growth.
Greek banks have also had to reduce their presence in the wider region. A great deal of damage has been done.
