Banking collapse is certainly there. It happened in Greece and Cyprus. Our banks have trillions in derivatives not reflected on their balance sheets, with only miniscule amounts recognised as a credit risk, which is totally dependent (and stated as such) on trading conditions remaining "normal".
If trading conditions, notably interest rate spreads but also FOREX, have spikes outside of "normal" (which is undefined) then the banks go down unless they are bailed out. After Greece and Cyprus we now know who will be doing the bailing.
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