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The Brady plan to me was an organized way to restructure debt held by countries on the brink of default. Whether it is better than any other restructuring mechanism, I'm not sure. But from my vantage point, they all involve a large amount of debt forgiveness for Greece, and what bank wants to give Greece billions of $? Isn't that the point of making Greece sell things - so that banks would get more back?

I don't see it saving Greece. It's credit worthiness is still shot; its expenses are still well beyond its profits. That article seems to make the impression that this is an alternative to selling off property and cutting expenses, but it seems reality is that it is merely a restructuring plan (that no doubt will get priced into the interest rates that Greece will have to pay should it ever borrow money again). One that will still be infeasible going forward unless Greece sells off property and cuts expenses to levels which are sustainable...

The real question here is what is better, restructuring or default?

<blockquote data-quote="Lyosha" data-source="post: 61916" data-attributes="member: 4703">The Brady plan to me was an organized way to restructure debt held by countries on the brink of default. Whether it is better than any other restructuring mechanism, I&#039;m not sure. But from my vantage point, they all involve a large amount of debt forgiveness for Greece, and what bank wants to give Greece billions of $? Isn&#039;t that the point of making Greece sell things - so that banks would get more back?I don&#039;t see it saving Greece. It&#039;s credit worthiness is still shot; its expenses are still well beyond its profits. That article seems to make the impression that this is an alternative to selling off property and cutting expenses, but it seems reality is that it is merely a restructuring plan (that no doubt will get priced into the interest rates that Greece will have to pay should it ever borrow money again). One that will still be infeasible going forward unless Greece sells off property and cuts expenses to levels which are sustainable...The real question here is what is better, restructuring or default?</blockquote>

[QUOTE="Lyosha, post: 61916, member: 4703"] The Brady plan to me was an organized way to restructure debt held by countries on the brink of default. Whether it is better than any other restructuring mechanism, I'm not sure. But from my vantage point, they all involve a large amount of debt forgiveness for Greece, and what bank wants to give Greece billions of $? Isn't that the point of making Greece sell things - so that banks would get more back? I don't see it saving Greece. It's credit worthiness is still shot; its expenses are still well beyond its profits. That article seems to make the impression that this is an alternative to selling off property and cutting expenses, but it seems reality is that it is merely a restructuring plan (that no doubt will get priced into the interest rates that Greece will have to pay should it ever borrow money again). One that will still be infeasible going forward unless Greece sells off property and cuts expenses to levels which are sustainable... The real question here is what is better, restructuring or default? [/QUOTE]

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