Though both steps would be "dangerously confrontational" in the newspaper's view, its use of withdraw regarding loans and abrogate about the treaty suggests that it would find the latter step more troubling.
Moreover, restructuring would stop speculation against the euro, whose intrinsic solidity need not be affected by one member country's bankruptcy, as long as the European Central Bank does not break its own rules regarding loans backed by junk bonds.
The other, signed into law in 2005, made a technical change, sought by the Bloomberg administration, regarding loans given by the city's Department of Housing Preservation and Development for neighborhood improvement projects.
Conseco Inc. said Chase Manhattan Bank and the Bank of America Corporation had agreed to extend until Sept. 22 loans of $155 million and guarantees of $145 million regarding loans to the insurer's directors and officers in connection with a stock purchase program.
Make sure your constitution allows for borrowing: The charity and trustees need to look at their constitutions to see if they have the appropriate authority in their governing document regarding loans, mortgages or borrowings and whether they are any restrictions imposed.
Greenspan also expressed concern regarding loans backed by those investments.
