Left out of some headlines

Nonetheless the FT reports:

“Here’s where you may be a little bit surprised, but this is where we decided to end last night: the specific elements of the deal, that is to say the structure of the new claim on Greece, remains to be negotiated,” said Charles Dallara, managing director of the Institute of International Finance, the consortium of banks that negotiated on behalf of Greek bondholders.

Comments

There is no point in reading the financial pages of the newspaper anymore. After a week, everything has changed again. Usually to the worse.

Oh, the side effects in uncertainty that result when you don't have rule of law.

Oh no, this 'deal' is the worst of all possible deals. There is no institutional reform, no creative destruction, and no predictability. Any one of those would have helped. I'm disappointed. There's neither excitement nor logic in the world.

Cheer up. The first "50% haircut" is the hardest to take.

Ha! this so typical coming from the policymakers - we decided on the general principals, but the specifics on how are we suppose to carry on with the deal is left to be negotiated.
In short, we agreed that we'll agree tomorrow - that would my title for the blog post be :)

When I wanted to ask a teacher for an incomplete, I usually tried harder to come up with a plausible excuse. I guess that is the difference between governments and individuals. They just say, this is incomplete and there is nothing you can do about it.

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