Wednesday, April 27, 2011
A Brady Plan for the European periphery
It's been out for a while, but I somehow missed it. Allen & Evans basically argue for a Brady (they call it Trichet) plan for the restructuring of the debt of the European periphery. A 35% haircut and 6.25% interest on new bonds. Will not solve the imbalances at the heart of the problem, but it's a good start. Not sure, however, that we reached the point at which debt restructuring is seen as a necessity. In Latin America in the 1980s it took almost a full decade. The Economist, in their last issue, has come out against it. Hope springs eternal!
Subscribe to:
Post Comments (Atom)
-
By Sergio Cesaratto (Guest Blogger) “The fact that individual countries no longer have their own currencies and central banks will put n...
-
There are Gold Bugs and there are Bitcoin Bugs. They all oppose fiat money (hate the Fed and other monetary authorities) and follow some s... -
"Where is Everybody?" The blog will continue here for announcements, messages and links to more substantive pieces. But those will...
No comments:
Post a Comment