What a southern default would mean

Following the thread the other day, just a link to something I wrote elsewhere, but here’s the gist:

There are two broad schools of thought on a default. One says it will result in savings being decimated, cash machines freezing-up and capital flight. The other says it will be less painful and quicker than the current situation, if performed in an orderly fashion.

The evidence appears to favour the latter. [Newswhip.ie]