Private Creditors Never Take Losses

By: Francis Cianfrocca (Diary)  |  June 13th at 08:30 AM  | 

Watching the Europeans go through their gyrations over Greece, it’s striking that so little of the commentary focuses on the true issue that is at stake for policymakers: the financial health of the holders of current Greek debt. Stay with me on this, because I’ll show you how it impacts current policy in the US. There is something afoot called the “Vienna alternative” under which | Read More »