German banks are very vulnerable to a greek default and have huge liabilities overseas, all of which could be vulnerable to write-offs with austerity measures. They are already too big to bail out if they collapsed. If there are problems in future then the poor old german tax payer will be on the hook for billions.

Interesting, that is the equivalent of the Bank of England buying Royal Mail (Bank). Haven't seen that in the news here, yet.

Yes ago the government sold off the National Giro, but yet they look like setting up another post office bank.