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The nine-point plan, tabled by South Africa, states that debtor nations should not be forced to accept punitive terms that would prolong debt repayments.
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Helena Smith reports: It might be the best deal in the circumstances but in Greece the idea of prolonging debt pay backs has been met with derision.
Rep. Paul Ryan, who has professed his adoration of Ayn, has touted a budget proposal that prolongs debt payoff, lowers taxes on the rich, and which the Nobel prize winning economist Paul Krugman referred to as a unicorn hunt.
Those who take such a degree can take a year out, prolong their debt and risk forgetting what they have learnt, but improve their employability.
Simply prolonging the debt negotiations could also damage prospects for growth in the third quarter, as businesses and families wait to make big purchases until the threat of a federal default subsides.
Faltering economic growth in the 17-nation euro zone risks prolonging the debt crisis, which began nearly two years ago and has since spread from peripheral states like Greece, Portugal and Ireland — all of which have received bailouts — to menace bigger economies like Spain and Italy.
Unfortunately Washington has decided to solve its current problems by prolonging the debt binge — this time by the government using the printing press.
The Pew report found that borrowers typically experience prolonged periods of debt, paying more than $500 in fees over five months.
On the other hand, a continued decline in personal debt could prolong a downturn by crimping consumer spending, one of the few strengths of the American economy over the last year.
The required adjustment will be prolonged and messy; and debt restructuring may occur.
But Breakingviews argues that while the firm seems to have been hit only lightly, it's still vulnerable to prolonged troubles in the debt market.
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CEO of Professional Science Editing for Scientists @ prosciediting.com