Egon von Greyerz on KWN: “One second Greece is being saved and the next second the deal is collapsing. Yesterday, for example, three UK banks signed up and that still only leads to 40% acceptance and one of the banks that signed on was Royal Bank of Scotland.”
“Royal Bank of Scotland is a bankrupt bank that is owned by the British government. This is the bankrupt leading the bankrupt. It’s absolutely ridiculous. If this deal is happening now, it would be a miracle. It could happen, but at some point the deal will collapse anyway.