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unreal37
on April 18, 2012
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Spain Is Doomed
Didn't Greece's creditors have to take a pretty nasty haircut with that swap - a 79% reduction in value that is being viewed as a default?
ebaysucks
on April 18, 2012
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That's still 21% too much they got to keep.
pja
on April 18, 2012
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Also, only private creditors had to take a haircut. State creditors (IMF, ECB) have so far not had to take a haircut at all, so the net reduction in Greek debt levels is far less than the "haircut" figures would have you believe at first glance.
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