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The only way to catch a glimpse of the company's punitive interest rate is by bouncing on a trampoline.
To assuage the lenders' domestic voters, EU loans would have to be made at a punitive interest rate.
The ECB reported that banks are now drawing up to €5bn from an emergency overnight lending facility that carries a punitive interest rate.
Foreign secretary William Hague has hinted the UK will drop the "punitive" interest rate it charges on the bilateral loan it gave to Ireland as part of the IMF-EU bailout last year.
But it would have to pay a punitive interest rate: because of the government's lack of credibility, the credit-default-swap spread on Argentine debt stands at 8.2% (similar to that for Greece).
Still, Mr. Greenberg argues that the bailout extracted a "punitive" interest rate and diluted the holdings of shareholders like Starr International, Mr. Greenberg's company, which at the time was the insurer's biggest investor.
Similar(52)
Its first Greek rescue was too short-term and exacted punitive interest rates.
How severe depends on how quickly fiscal discipline substitutes for punitive interest rates as the country's new policy anchor.
This meant Greece was pushed into sharp, depression-inducing austerity (Germany initially insisted on charging punitive interest rates).
Its first bail-out gave it three-year loans at punitive interest rates, with no debt reduction.
And for those with a 90 per cent LTV, there are only a handful of products on offer – mostly at punitive interest rates more than double the Bank rate.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com