Germany advised to pave the way for Eurozone Bank and Sovereign Default

MPB

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According to Brendan Keenan in todays Indo, the German Govt have been advised by 8 selected economic advisors to introduce Euro wide insolvency legislation that would allow for orderly defaults and debt renegotiations.

It looks like the attempted bailout has failed and a dose of reality is being considered.

Is it too late?
 


Watcher2

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According to Brendan Keenan in todays Indo, the German Govt have been advised by 8 selected economic advisors to introduce Euro wide insolvency legislation that would allow for orderly defaults and debt renegotiations.

It looks like the attempted bailout has failed and a dose of reality is being considered.

Is it too late?
I hear the Chelsea Oligarch will sue us if we even think of defaulting on his bonds.
 

Aindriu

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I hear the Chelsea Oligarch will sue us if we even think of defaulting on his bonds.
Let him try. We have feck all left to give anyways. petunia
 

MPB

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I hear the Chelsea Oligarch will sue us if we even think of defaulting on his bonds.
The Chelsea Oligarch definitely bought them, but he is going to have awful trouble trying to convince a court that he bought them from us.

I am quite sure that they have the name INBS on them and not Irish Sovereign.

The same goes for the fruit and nuts that bought Senior Bonds in dodgy Private Banks.
 

kerdasi amaq

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All our borrowings are against future income. Income the government is determined to prevent people earning.

We must have a reform of our currency and paying for government activity. The tax system we inherited from the British doesn't work, and lets lazy and incompetent politicians off the financial hook.
 

slumdog1971

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According to Brendan Keenan in todays Indo, the German Govt have been advised by 8 selected economic advisors to introduce Euro wide insolvency legislation that would allow for orderly defaults and debt renegotiations.

It looks like the attempted bailout has failed and a dose of reality is being considered.

Is it too late?
No.

It is time to change the rules and this might be the first step.
 
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Let everyone default, private, personal and sovereign.

Start again with a new system.
 


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