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EU Outlines Bond Restructuring Plan

Wall Street Journal Original article ›

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The growing debate over bondholder haircut, easy money policies, sacrifices, and austerity policies.

11/25/2010

This debate puts British prime minister Cameron, and German chancellor Angela Merkel, on one side, with US President Obama, US central bank chairman Bernanke and other leaders on the other side. The blanket Irish guarantee of all Irish bank debt is an example of improper action that could have prevented the need for an Irish bailout, when guaranteeing only retail Irish bank debt would have worked. Merkel has insisted on bondholders sharing in bank losses, and tougher action required for countries receiving bailouts.

Grouped Articles

A Crisis Needing More Sacrifice

New York Times 11/25/2010

Crises Shake German Trust in Euro Zone

New York Times 11/26/2010

EU Outlines Bond Restructuring Plan

Wall Street Journal 11/28/2010

Europe Backs Irish Rescue and New Rules on Bailouts

New York Times 11/28/2010

Spain, Italy Seek Action

Wall Street Journal 12/02/2010

'Contagion' and Other Euro Myths

Wall Street Journal 12/02/2010


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