Can Greece survive? HiFX comments on the biggest ever sovreign debt restructruring
Jason Gaywood, consultant at currency specialist HIFX comments on the biggest ever sovereign debt…
I think the Greek deal is yet another example of kicking the can down the road. In exchange for renegotiating €100 billion of private sector debt, Greece takes on €130 billion in public debt. I don’t see how this is a good deal, nor do I see how it’s sustainable given the problems in Greece, the EU and the world at large.
I agree with you that this is a political solution, not an economic one
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