Greece Just Lost Control Of Its Banks, And Why Deposit Haircuts Are Imminent

From Zero Hedge:

One of the preconditions imposed on Greece for a deal is that it signs into law European rules that would put euro zone authorities at the ECB and in Brussels, rather than Athens, in charge of identifying and closing or breaking up sick banks. This in turn could lead to a shake-up of the sector that could see some banks close, with losses pushed onto bondholders and possibly even large depositors. In such circumstances, there would be little that Athens could do to prevent this.

http://www.zerohedge.com/news/2015-07-13/greece-just-lost-control-its-banks-and-why-deposit-haircuts-are-still-coming