Tuesday, March 13, 2012

How can "orderly defaulted" Greece pay 18+% on its debts?

Bloomberg TV is happily chirrupping away this morning about the new Greek bonds yielding more than 18 per cent per annum. That is correct, no really!

That means that the debt will have easily increased more than five times in the eleven years before the bond is due for repayment! Are these idiots in the EU serious?



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