Internet Scofflaw

Greece has defaulted.

This is actually good news. The default (a 74% “haircut”) has been a near certainty for weeks. The only question was whether the International Swaps and Derivatives Association would weasel out of paying off on credit default swaps, and they didn’t.

This entry was posted on Saturday, March 10th, 2012 at 9:38 am and is filed under Political. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.