Showing posts with label haircut. Show all posts
Showing posts with label haircut. Show all posts

Sunday, November 11, 2012

Words of the Weasel, Part 31

From The Economist.  "Earlier this year private sector bond holders reduced their nominal claims by more than 50%".
How nice and cooperative that sounds.  In actual fact the Greeks gave lenders a 75% haircut.
The Economist went on to urge canceling more Greek debt and lending them more money.  After all ,  the poor things cannot improve their economy with out lots of foreign investment.   Wouldn't we all like to lend them more money?