Monday, February 20, 2012
Eurozone Reaches Deal on 2nd Greek Bailout
* 130 billion euros for Greece.
*Greece to cut deficit to 121% of GDP by 2020.
*Bondholders receive 75% haircut.
The ISDA will now be forced to label a 75% haircut a voluntary restructuring rather than a debt default.
Pardon the brevity of this post as The Doc calls his lender to arrange a 75% voluntary debt restructuring on his home mortgage.
"Let's call it even".
I promise to be able to pay my interest only by 2030.
Posted by The Doc at 10:44 PM