Tag: greek default

Beware of Greeks Bearing Bonds

Post author By Tom Spencer
Post date November 29, 2011
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THE MARKETS have been temporarily buoyed amid optimism that European leaders will find a solution to the debt crisis. Unfortunately, the optimism is likely to be short lived because the problem with Greece is not just that they owe everyone a lot of money. Greek debt is a symptom of a more endemic problem rooted in the […]

Tags bribery, consulting, credit default, Economics, Greece, greek default, Greeks Bonds, Management Consulting, sovereign default, tax evasion, temporary optimism, Vatopaidi monks

Economics

Greek default in all but name

Post author By Tom Spencer
Post date November 27, 2011
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Whatever you say it is, it isn’t ~ Alfred Korzybski IN OCTOBER 2011, private banks accepted a 50% writedown on Greek debt. European leaders negotiated the writedown to avoid a technical default. It is surprising that ratings agencies did not classify the writedown as a default when you consider that S&P defines sovereign default as […]

Tags consulting, credit default, Economics, Greece, greek default, Management Consulting, private-sector involvement, PSI, sovereign default, the costs of sovereign default