Wednesday, November 28, 2012

Roubini : Disguised Greek debt forgiveness Buys time

Nouriel Roubini : " "@FT: Opinion: Disguised Greek debt forgiveness buys time " achieve undisguised debt relief after German elections "
"Greek debt deal is close to a Brady par bond. It gives NPV debt relief, via lower rate & maturity stretch, in spite of no face value haircut "
"Greece got real OSI debt relief via a Brady-style Par bond that, on an NPV basis, is equivalent to a Discount bond with face value reduction " - in twitter
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