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.

"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

Dublin is to Blame

by Frank Schnittger - May 18
18 comments

Zero Net Energy - May 14, 2018

by gmoke - May 15
3 comments

NATO Total War Project

by Cat - Apr 14
8 comments

40 Questions

by Cat - May 1
15 comments

Occasional Series