As if Europe Wasnt Collapsing Fast Enough Already.
Headlines indicate that Greece has decided to bypass the ECB, and NEGOTIATE WITH DEBTHOLDERS directly, and is reportedly seeking haircuts of 75%!
This would represent a further 50% increase to the currently agreed upon 50% haircuts, which were deemed "not a default" to prevent a derivatives supernova.
We can't wait for the spin describing a 75% write down as "voluntary" and "not a default". LOL.
SUCK EUROPEAN DEBT JP MORGAN!!