As talk about an actual restructuring of Greek debt increases, the EU continues to think that avoiding a CDS Credit Event is a good thing.
The IMF, EFSF, EU, G-20 are all busy figuring out how to take more taxpayer money to «solve» the problem.
Is it a coincidence that Ireland, the sovereign credit, did better once it let these institutions experience a Credit Event?
It seems so long ago, but it was just over a year ago the EFSF was first created….
El último paquete de «garantías» del FEEF muestra, una vez más, lo equivocada que está Europa.
The latest EFSF “collateral” package shows once again, just how wrong Europe has it.
Unless something changes in the next 24 hours, I expect we will hear more and more talk about default, not only of Greece but of other countries and of banks.
Tenemos que admitir de una vez que esto es una gangrena. Si seguimos esperando, puede que no sea posible salvar al paciente.