Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:
As lightly capitalized, if we can call it that, as some of the German banks appear to be, repudiation of even a $5.5 billion bond obligation, if it was leveraged 10:1 by the bank that purchased it and if it became public knowledge, could have serious consequences. Someone would want their $5 billion back and the bank's balance sheet would be down $5.5 billion from the "pray and delay" status previous to default.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Apr 15th, 2011 at 05:10:49 PM EST
[ Parent ]

Others have rated this comment as follows:

JakeS 4

Display:

Top Diaries

Sisyphean syphilis

by marco - Mar 26
23 comments

Movies

by DoDo - Mar 7
21 comments

Two ruins

by DoDo - Mar 14
7 comments

Greek MP Lapavitsas on Grexit

by Upstate NY - Mar 15
294 comments

Recent Diaries

Sisyphean syphilis

by marco - Mar 26
23 comments

Greek MP Lapavitsas on Grexit

by Upstate NY - Mar 15
294 comments

Two ruins

by DoDo - Mar 14
7 comments

Hello

by alexc - Mar 12
6 comments

Movies

by DoDo - Mar 7
21 comments

The new Greek government program

by talos - Feb 23
171 comments

More Diaries...

Occasional Series