debt restructuring: "idiotic"

Group about Greeks

arktos
q&a with an ecb staffer

http://news.kathimerini.gr/4dcgi/_w_articles_economy_1_14/11/2010_422385
                                            
Kickboxer
Let's re-read how this man responded:

Q: Ìåñéêïß õðïóôçñßæïõí üôé ìéá ðôþ÷åõóç èá Þôáí ðñïò ôï óõìöÝñïí ôçò
ÅëëÜäáò ìáò.

A: Íïìßæù üôé ðñüêåéôáé ìéá åðéöáíåéáêÞ êáé çëßèéá áíÜëõóç. Áí ðôþ÷åõå
Ýíá êñÜôïò, Ýóôù êáé ìåñéêþò, ôüôå èá Ýðñåðå íá áðïìåéùèïýí ïé
äåóìåýóåéò ôïõ êñÜôïõò ðïõ Ý÷ïõí ôç ìïñöÞ åããõÞóåùí. Áõôü èá óÞìáéíå,
åéäéêÜ óôçí ðåñßðôùóç ôçò ÅëëÜäáò, üôé èá ðôþ÷åõå êáé ôï ôñáðåæéêü
óýóôçìá. Áñá èá äÝ÷ïíôáí ðëÞãìá üëïé ïé Üíèñùðïé. Ïóïé õðïóôçñßæïõí
ìéá åíäå÷üìåíç áíáäéÜñèñùóç ôïõ åëëçíéêïý ÷ñÝïõò, äåí åßíáé ößëïé ôçò
ÅëëÜäáò. Åßôå áíáëýïõí ôá ðñÜãìáôá åðéöáíåéáêÜ åßôå åßíáé êåñäïóêüðïé
êáé ðñïóðáèïýí íá áðïêïìßóïõí ðñïóùðéêü êÝñäïò.
                                            
gogu
If he is not a Nobel Prize, his opinion is equal to...zero;-)))
                                            
Nashton
We've been saying this for months, now. This ought to come as no 
surprise to anyone with half a brain;)
Defaulting (partial or all out) would mortgage Greece's future for years 
to come, probably more than a generation.

OTOH, I'm sure that of someone came up with some quantitative data to 
support why defaulting (partial or otherwise) would be more beneficial 
than the current course of action, I would be ready to revise my position.

Since this information isn't forthcoming any time soon, given the 
absence of a viable alternative, this is is still the way to proceed.
                                            
arktos
[email protected]:

422385


if you mean "ptoxeusi", u r right. it is the default that is "idiotic" - 
tho ptoxeusi entails restructuring and restructuring is done to avoid
having to declare ptoxeusi. it is stronger than my title. good point.