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"
She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
by Frank Schnittger - Sep 17 93 comments
by epochepoque - Sep 4 8 comments
by gmoke - Sep 11 2 comments
by Helen - Sep 6 66 comments
by Frank Schnittger - Sep 2 19 comments
by gmoke - Sep 25
by Frank Schnittger - Sep 1793 comments
by gmoke - Sep 112 comments
by Helen - Sep 666 comments
by epochepoque - Sep 48 comments
by Frank Schnittger - Sep 219 comments
by Frank Schnittger - Aug 3050 comments