Saturday, May 14, 2011

The follow on Spain link is worth a look also

REFRESHER: Here's Who Gets Slammed If Greece Restructures

The latest news on Greece is that it may be considering a euro exit, with German leaders suggesting the country will need a debt restructuring either way. Germany may be trying to expedite a debt restructuring for Greece by planting the story, but it does seem we are moving with great speed toward that reality. The countries, banks, and firms exposed a Greek debt restructuring are numerous. It's time you got up to speed. Read more: http://www.businessinsider.com/greek-restructuing-debt-2011-5?op=1#ixzz1MMXHZ3P9

Posted by novice pete @ 09:57 PM (2314 views)
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6 thoughts on “The follow on Spain link is worth a look also

  • novice pete says:

    For any ‘oddballs’ or ‘nutters’ out there.

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  • Rental John says:

    Franco-German alliance to ditch less favourable / weaker Eurozone members…?
    Two tier Eurozone…?

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  • The numbers do not make a pressing case for bailing out Greece indefinitely..

    ..incidentally, Belgium, I am told; has the greatest exposure per capita..

    ..but who cares about a country that can’t form a government..!

    Surely it is time to end this ludicrous game..

    ..the euro was a vanity exercise that has failed. Countries like France and Germany now need to shed their unwanted baggage..

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  • Belgium and Italy both have relatively high sovereign debt/GDP ratios but both pay relatively low risk premia on their bonds. The key seems to be that they both have relatively little foreign debt (and Belgium runs a current account surplus). Markets seem to look at a country’s total indebtedness – public and private – since they know that private debt can become public debt anyway in a crisis. And countries with high sovereign debt but low foreign debt (e.g. ones where their own citizens own a lot of the countries’ bonds) can, theoretically at least, tax those citizens to reduce that sovereign debt.

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  • Nice graphs. Note how high Britain’s total debt (public+private) is!

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