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In Whitehall there is a feeling that a full default in Greece does not in itself present a strategic threat to the EU.
Greece owes €320bn, most of it to eurozone governments, and a full default will prove expensive for the others, not least Germany, which has €92bn at stake.
Greece owes €320bn, most of it to eurozone governments, and a full default will prove very expensive for the others, not least Germany which has €92bn at stake.
Instead of having a full default on the trust fund bonds and full payment on the bonds held by Peterson, maybe we should make everyone take a 15% haircut, getting back 85% of the value of their bonds.
Many investors are convinced that Athens, facing years of fiscal austerity and potential economic stagnation, will ultimately be required to reschedule its debts and renegotiate terms with lenders, a step short of a full default.
Think of this as a partial default rather than a full default.
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Bills 38, Raiders 35 We said it a week ago: with the bandwagon in Houston full by default, Buffalo is the new destination for fair-weather fans and two-bit prognosticators.
Immediately after registering, I was presented with a page full of default widgets, asking me to add a profile picture, configure my guestbook, list a few of my favorite things, and so on – there was so much there that I simply didn't know where to start.
One area will be loans for specific verticals or types of businesses: the idea here is that if you are a construction business or a restaurant, you are likely to have very different cash flows, so Kabbage would like to develop ways of making the loans more personalised and less full of default and friction that can easily be avoided if the lender understands more about the borrower.
Letting Argentina go further along the road to full-scale default with the multilateral institutions would not be much better.
With tens of thousands of Greek citizens protesting on the streets, and the government on the brink of collapse, a full-blown default is now a realistic possibility.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com