The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
Second, on general negotiation strategy for sovereign defaults, it's actually fairly simple.
Second, there is a simple negotiation strategy for sovereign defaults.
Repeal of the prohibition on direct ECB purchase of sovereign bonds, and a mandate to purchase sovereign bonds at a price no less than [the one corresponding to] the Frankfurt overnight rate plus some politically fixed acceptable yield curve (the precise shape of which is beyond the scope of this missive).
Off the top of my head:
Negotiate to have the ECB directly purchase sovereign bonds. Fight for these purchases be at the Frankfurt overnight rate.
(not quite there but a lot closer, IMHO.)
c) You cannot even save all the people you really want to save. Then you're screwed, if you'll pardon my French. You will be coming hat in hand to other countries.
Never, ever, give an opponent a chance to attack using your own words. If you keep this in it WILL be quoted and used against you! ..."Even JakeS admits blah, blah, blah"
Skepticism is the first step on the road to truth. -- Denis Diderot
by ManfromMiddletown - Oct 20 45 comments
by gmoke - Oct 7 3 comments
by ARGeezer - Oct 7 60 comments
by Frank Schnittger - Sep 29 19 comments
by DoDo - Oct 3 10 comments
by ManfromMiddletown - Oct 2045 comments
by gmoke - Oct 73 comments
by ARGeezer - Oct 760 comments
by DoDo - Oct 310 comments
by Crazy Horse - Sep 2925 comments
by Frank Schnittger - Sep 2919 comments
by Frank Schnittger - Sep 274 comments
by Cyrille - Sep 24136 comments