as opposed to governments, the ECB or the IMF, which are public.
What worries me is that, to try to get round the definition of 'default', the banks and private investors may not be forced to contribute - just 'urged':
The deal paves the way for a German-backed initiative for more direct measures to get private holders of Greek bonds to help pay for the bail-out. According to a version of the plan circulated by the European Commission on Wednesday evening, all owners of Greek bonds that come due in the next eight years will be urged to swap their holdings for new bonds that do not mature for another 30 years. Other plans, however, including a French-backed bond rollover plan, are believed to still be on the table.
http://www.ft.com/cms/s/0/36e18942-b372-11e0-b56c-00144feabdc0.htmlAnd I don't trust bankers to do something 'for the good of the euro', if it costs them money.
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