Comments on: Expecting an early Greek default A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 By: johnhhaskell Thu, 21 Apr 2011 11:18:20 +0000 Beezer – great idea!

In the new spirit of co operation, why don’t you and I issue joint IOU’s? It would probably raise the interest rate I pay, but only to the degree that you wish to trash my credit rating with your borrowing. AND it would allow you to get out from the high rates you are currently paying, as you could well end up paying zero.

By: Beezer Wed, 20 Apr 2011 21:40:39 +0000 Does the EU issue EU bonds? If not it should. This would probably raise the interest rate Germany pays, but only to the proportion of GDP (or some equivalent) represented by the periphery countries facing difficulties. But it would allow Greece to get out from under the high rates that are crushing its economy as well as their ability to pay down debt.

By: y2kurtus Wed, 20 Apr 2011 21:18:31 +0000 Great start Felix…

As one of your wonkiest readers on what is a very wonky blog (intended as a total complement) I’d love to here more about your thoughts on the nuts an bolts of the process of a Greek restructuring.

Do they abandon the EURO?

Do they attempt to offer some kind of cover for the lowering of private wages? IE The goverment is cutting all salaries across the board by 20% and will allow private sector firms to do the same irrespective of contracts?

What exactly happens with the outstanding bonds? Do you uniformly extend maturities by 5 years? 10 years?

How do you keep the banks running?

Keep up the fantastic work… much of what you produce is nearly unique on the web and that is a rare thing!