S & P down Greece to 'selective default'.

Discussion in 'Markets & Economies' started by TheEnd, Feb 29, 2012.

  1. TheEnd

    TheEnd Well-Known Member

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    TheEnd, Feb 29, 2012
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  2. VRS

    VRS Well-Known Member Silver Stacker

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    I hate this weasely-worded approach, don't you?

    Holy $hit - 'Greece formally launched the bond swap on Friday. Under the deal, bondholders will take losses of 53.5 percent on the nominal value of their Greek holdings, with actual losses put at around 74 percent.'

    'SELECTIVE default...'?!!? - I thought The Greek Parliament had ELECTED to adopt pre-car crash mode 'austerity measures' - a socio-economic head-between-the-knees as it were - Y'know, the way airline stewards always tell everyone to 'BRACE!' before impact because it's tidier for the clean-up team...

    The term 'Economic Body Bag' would be far more accurate...
     
    VRS, Feb 29, 2012
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