Category: IMF

Government animals are more equal than others: Part 2, property rights are human rights

24 January, 2012 (11:25) | Capital markets, Credit default swap, Default, Eurozone, Global news, Greece, IMF, Restructuring, Sovereign bankruptcy |

[Continued from yesterday's Part 1.]   By:David A. Smith   Yesterday we saw that Greece’s puppet masters appear to be compel private bondholders to take a severe loss but to exempt the European Central Bank from that selfsame loss, on the theory (though that’s not how the New York Times put it) of protecting one’s […]

Government animals are more equal than others: Part 1, creditors’ rights are property rights

23 January, 2012 (10:31) | Capital markets, Credit default swap, Default, Eurozone, Global news, Greece, IMF, Restructuring, Sovereign bankruptcy |

By:David A. Smith     In the two months since I pronounced sentence on it (“The euro is over.  Either that, or European democracy is“), the Eurozone has postponed disorderly default only through a series of progressively more contorted, dubious, and anti-democratic measures, of which the most recent was reported backwards by the New York […]