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More on Greece Greece needs a proper debt restructuring.
Unless there is some specific reason to pursue a person who has paid his proper debt to society, it is just not right to hassle him.
He said, "Here's where you are being imprecise," and then explained at length what a proper debt restructuring would entail, dismissing the E.C.B.'s move as an exercise in "kicking it down the road".
A proper debt limit should improve our credit rating, not lower it.
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One could argue that the scale of global investment banks means governments still cannot let them fail, and the only solution is proper "bail-inable" debt (instruments that could be converted into equity in an emergency) and resolution plans.
There is a lot of debate as to what the proper level of debt should be for a developed economy, say 70%.
The charity Citizens Advice said that in six out of 10 of the cases it saw involving payday loan debts, proper affordability checks had not been carried out by lenders and a third of those with difficulties had been put under pressure to extend their loan.
But court rules state that anyone submitting an affidavit to a court against a debtor must have proof of that claim — proper documentation of a debt's origins, history and amount.
Professor de Grauwe has proposed far more elastic rules that would eliminate numerical targets on deficits and would allow countries to set what they judge to be a proper level of national debt, within certain limits.
If you receive one and disagree with the amount shown, write the lender requesting that it issue a corrected Form 1099-C showing the proper amount of canceled debt.
Both parties should know where the money is going and whether you're taking proper care of your debt and tax obligations.
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