Quote:
Originally Posted by J pold
I say at this point to just them default in a controlled manner, and build sandbags around the other peripheral Euro economies to keep them from going down. Of course this would be executed in a much smoother fashion if they weren’t on the Euro.
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Is that not what really what the latest offer was? 50% haircut to creditors without CDS triggering is what I understand the deal was. Problem is, when you make the CDS worthless, there is no way to insure lending to these countries which makes the affordability of more debt for these countries go through the roof.