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The fact that he is still in charge casts doubt on the administration's commitment to debt forgiveness.
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Greece also seems to have downgraded its demand for an immediate commitment from creditors to debt forgiveness – instead this issue will be returned to after the immediate deal is done.
Taylor and her colleagues aren't arguing that their approach to debt forgiveness is a viable alternative.
In addition to debt forgiveness, debt collectors are allowing many delinquent borrowers to pay down their debt over the course of a year rather than the standard six months.
Africa's total debt-to-gdp ratio, which had fallen to less than 30% by 2008 (thanks to debt forgiveness as well as booming commodity prices), remains low, because GDP has been growing fast.
Chancellor Angela Merkel reiterated her opposition to debt forgiveness, pressing Greece to abide by the austerity-driven formula its European colleagues have established as a path to financial stability.
The main answer will have to be debt forgiveness.
Mr. DeMarco has come under increasing pressure to allow debt forgiveness, also called principal reduction, since the announcement of a multibillion-dollar foreclosure abuse settlement that requires banks to write down mortgage debt for some eligible homeowners.
She called the proposals "despicable" and "outrageous" in increasing barriers to student debt forgiveness.
"What we need today is a renewed commitment to a constitutional right to vote, student debt forgiveness and job opportunities," he said.
LOST IN THE FANFARE of June's G-7 summit was the Cologne Debt Initiative, designed to provide more debt forgiveness to heavily indebted poor countries.
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CEO of Professional Science Editing for Scientists @ prosciediting.com