Tag Archives: debt restructuring

“The eurozone, as designed, has failed. It was based on a set of principles that have proved unworkable at the first contact with a financial and fiscal crisis.” – Martin Wolf (Financial Times)


Via Paul Krugman – Martin Wolf at the Financial Times writes – Intolerable choices for the eurozone: It has only two options: to go forwards towards a closer union or backwards towards at least partial dissolution. This is what is … Continue reading

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The Case for an Irish Default: Wall Street Journal – “All roads to solvency lead through debt restructuring”


Via Irish Central; Richard Portes @ The Wall Street Journal (you know, those leftie economically illiterate types unlike Leo Varadkar or Ivan Yates) – The Case for an Irish Default: Ireland’s public debt is clearly unsustainable… The projections contained in … Continue reading

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Paul Krugman: Monetary Union experience – Ireland versus Nevada


From The New York Times – Can Europe Be Saved?: The tragedy of the Euromess is that the creation of the euro was supposed to be the finest moment in a grand and noble undertaking: the generations-long effort to bring … Continue reading

Posted in Accountability, Bank Run, Bankers' Bailout, Debt Default/Restructuring, ECB/IMF, Economy, EU, Euro / Sovereign Money, Geopolitics, History, Housing Bubble, Ideology, ireland, Solutions, Superstate | Tagged , , , , , , , , , , , , | Leave a comment

New York Times: The Euro Crisis Hasn’t Gone Away, You Know…


From the New York Times – The Crisis That Isn’t Going Away: “It is clear that the debt which will take a haircut is the current debt, not the future debt,” said Willem Buiter, chief economist at Citigroup, who on … Continue reading

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Guardian: Greece Can Only Recover By Defaulting


From The Guardian – Greece can only recover if its debt is restructured, say economists: Experts say a default on Greece’s €110bn EU and IMF-sponsored rescue package is inevitable…

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Telegraph – Citigroup: Fear Fresh Wave of Eurozone Sovereign Defaults, Bank Failures


From The Telegraph – Citigroup fears fresh wave of sovereign defaults and bank failures in eurozone: Citigroup has warned of a fresh wave of bank failures and a string of sovereign defaults in Europe unless EU leaders come up with … Continue reading

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Spiegel / Telegraph: Ireland Needs Eurozone Holiday


From Spiegel Online – Bond Leader Pimco Sees Euro Zone in Danger: European leaders proudly announced agreement last week in efforts to save the euro. But Pimco, the world’s leading investor in sovereign bonds, says that the measures are not … Continue reading

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