From the “duh” files.
http://www.nytimes.com/2011/04/19/business/global/19euro.html?ref=global-home
The Greeks reject a debt restructuring out of hand. The European Central Bank fears that such a move will spread financial panic. And, meanwhile, the European Union and the International Monetary Fund insist that their recipe of bailouts combined with sharp spending cuts makes restructurings unnecessary.
Nevertheless, the notion keeps popping up that Greece, and perhaps even other weak European Union countries like Ireland and Portugal, will be forced to restructure.
Join the conversation and have a little fun at Capitalstool.com. If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.