Detailed text transcripts for TV channel - MSNBC - 20111104:

Detailed text transcripts for TV channel - MSNBC - 20111104:17:41:00

of money the eu or international monetary fund is willing to give them? do we know? >> concern has always been not so much if greece failed. there is what most people suggest is enough money kind of within the european firewall, their own t.a.r.p., the bailout funds they've put together, to bail out greece. the question is, of course, whether or not a greek failure would spill over to larger economies like italy and spain. that's the real question. is there enough money for those countries? one of the big debates around greece's failure is whether or not private investors in its debt, that is mostly european banks, would have to take huge write-downs and haircuts on the values of their greek debt. they've been negotiating furiously not to do that. people don't know what would happen if suddenly european banks announced they had less capital on their books than before. so i think it's really, it's less about greece, itself, and more about the spillover effects to larger economies and the banking system. >> telis demos of the "financial times." thanks for sharing your wisdom

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