Monthly Archives: November 2012

An opinion on debt forgiveness and a summary of the ‘deal’

Below are a couple of very interesting articles: Greece does not need debt forgiveness (by Daniel Gros)Another ad hoc deal or a step towards a solution? (by openeurope) Daniel Gros describes very well that it is less the level of … Continue reading

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Oh dear, the bond buy-back has been defined as a life-or-death issue!

The Greek Finance Minister is being quoted as saying that “the bond buy-back MUST succeed!” Or else? For all I know, the buy-back could turn out to be a huge success or a dismal failure. Only insiders can really judge … Continue reading

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EU – still trying to be just a little pregnant?

I used to think that one couldn’t be just a little pregnant. The EU has now been trying for over 2 years to prove that one can: they don’t have the guts for an abortion but despite all their care … Continue reading

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Greek debt. Or is it equity?

The level of Greece’s debt would be irrelevant under two conditions: (a) the debt would never mature and (b) it would carry no interest. That debt would then be considered equity. The mindset of lenders is totally different from the … Continue reading

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EU – seek the advice of Bill Rhodes!

William R. “Bill” Rhodes is the retired Citibanker who turned himself into a legend when he almost single-handedly negotiated solutions for the various Latin American debt crises during the 1980s, solutions which worked. Following that, and until his retirement from … Continue reading

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Time for an ultimatum?

I picked up the following tweet from Prof. Yanis Varoufakis earlier today: “The time has come for Athens to declare in favour of IMF’s position: OSI now + an investment stimulus via EIB. Or no deal. If not now, when?” … Continue reading

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European bankruptcies versus Chapter 11

I am no expert on bankruptcy laws but I do remember the general principles of bankruptcy laws in Austria and Germany from recent experience and those of the American Chapter 11 from distant experience. To make it easier, I will … Continue reading

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