In Frankfurt, Germany financial experts say that a Greek debt restructuring plan would certainly send shock waves throughout stock and money markets, European banks and perhaps entire economies.

Greek banking institutions may go bust, overwhelming the government’s capacity to bail them out, and financial institutions in France, Germany and in other regions in Europe could possibly suffer losses they can ill afford.

The resulting market problems could strain the European’ Union’s backstop money, pressuring European leaders to drum up yet additional taxpayer funding, with voters currently frustrated at backstopping other people’s failed governments.

A European Central Bank executive warned Thursday that leaders must be ready to double the bailout fund to euro1.5 trillion ($2 trillion ) if Greece ends up being ruled in default.

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