Syndicate content

Add new comment

Submitted by anonymous on
Do I understand correctly your argument: you say that the only reason the package does not work is that private creditors perceive it as senior and sell off? This does not sound right - without a package they should have sold off even more rapidly but presumably they do not. Those packages that do not work simply mistake illiquidity with solvency and no amount of lending can hide that fact. Some also do nto work because either lack of transparency or lack of understanding mean investors are only now, with the official package, figuring out the mess a country is in.