134439. Fletcher [5.188.211.24] 07 Jul 2019 - 17:49
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| Yes, I love it! http://www.sealav.com/ you tube8 Some participants go even further, and say that the current system is already too biased against bondholders. Sure, theyโve done OK for themselves โ so far โ in Portugal and Italy. But look at cases like Greece, Argentina, and Russia: in those countries, bondholders had to take enormous haircuts, in part because there was so much official-sector financing which insisted on preferred-creditor status. If a country has to pay off its preferred creditors in full, then any given necessary debt reduction is going to fall all the more heavily on the private sector. And if the IMF is going to come up with some kind of system for imposing losses on the private sector, thatโs a clear sign that the Fund thinks that the private sectorโs losses right now are too small.
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