In the '70s (?) the banks advised large commercial borrowers to borrow in Swiss francs because of the low interest on offer. But the bum fell out of the A$ and the debts [in A$s] rose rapidly and they were unable to repay. Many good businesses failed and some sued the banks for not explaining the risks involved in such loans, and WON.
The only people holding Greek paper today would be speculators anyway. The original lenders having taken their haircut and moved on.
