That just means Re-transferring debt.
it is only a bandaid for temporary comfort and light protection.
the source of the wound has still not been addressed.
An approximate 50% write off of private investor debt will not come with no strings attached.
The downgrading of bonds in Greece, Spain and Italy will only leave France and Germany stronger and at a point of leverage.
Oh yes, and who came up with this wonderful plan? the leaders anyway, France and Germany. it is no surprise.
This just means that the EU itself is going to capitalise and the rich (Germany, France and Britain) will become richer and the poor will become poorer. it is just ‘business’.
Everyone knows its happening, everyone knows its on going but nobody wishes to do anything about it.
Too much is at stake. Too much political reputation to consider.
Can we imagine the situation for a while. A regional debt that is too large to ‘inflate’ away that a decision to write off debt was required. and even then, Greece is still approximately 100% of GDP in debt. The stock market rebounded on this ‘wonderful’ news. it is just a game of expectations. the political leaders can predict by expecting expectations.
All we have to do is, know what information is going to be produced from any decision making and invest the split second before the announcement. Simple complex genius-osity. Expecting expectations.