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When Was The Definition Of Default Rewritten?

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With the talk about temporary or short term default now is clearly the new propaganda when did they rewrite that you can have levels of default? I must of missed this.

Can we next expect talks of temporary bankruptcy? Short term deficit measures?

A default is a default, there are no exceptions or levels and yet we now have this.

It's starting to feel more and more like an Orwellian novel.

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Sarkozy says extending maturities is not a partial default

Open Europe’s chief economist, Raoul Ruparel, said:

It looks as if Greece will be forced into some kind of temporary default, but the mechanisms for dealing with this look to be thin on the ground. This plan offers the negatives of a default, albeit a temporary one, without proper backstops or the positives of long term debt relief, which is what Greece, and potentially other struggling eurozone countries, really need.

Discussions over "selective default" have dragged on beyond a lunch of steak (it is Belgium's national day after all). Latest is that the leaders have just got to section seven, half way through the draft and are just beginning on talks to beef up the EFSF.
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