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Tuesday, September 27, 2011

A rescheduling of sovereign debt is the most natural thing in the world!

Here is finally an article which explains that a default and/or debt rescheduling is the most natural thing when a country hits external payment problems (and not the financial Armaggeddon which EU-elites want us to believe). A haircut of sovereign debt after only 3 years of crisis, on the other hand, is an absolute no-no.

The EU-elites have got it completely wrong. The normal thing of a rescheduling is financial Armaggeddon for them but a haircut is something they talk about casually. Good grief!

http://blogs.wsj.com/source/2011/09/26/lessons-for-greece-from-a-decade-ago/

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