World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
Bloomberg View: A Road Map to a Prepackaged, Orderly Greek Default
Keywords:
Bloomberg Business Week's Peter Coy calls for debt forgiveness- creditor haircuts for sovereign debt in Europe, and bank writedowns of debt in the U.S. housing market
08/10/2011
Peter Coy of Bloomberg Business Week calls for debt forgiveness in the August 2011 issue of Business Week. Stretching out the debt issues without writedowns says Coy, only leads to austerity programs, stagnant growth and drags the issues out over many years. Better solutions can be found by starting anew with writedowns now and arrangements to make this possible, and returning to growth sooner. What about moral hazard? There is moral hazard in letting the banks bear no cost for reckless lending decisions, they are as likely to repeat this behaviour says Coy, as Greece or the underwater mortgage borrower in the U.S., if they did not have to bear the consequences of their decisions.
Grouped Articles
How Righteousness Killed the World Economy
New York Times 10/12/2014
Greece’s new prime minister wants Germany to pay for Nazi war crimes - The Washington Post
Washington Post 01/26/2015
For Europe’s Sake, Keep Greece in the Eurozone
New York Times 07/06/2015
How to Undo the Damage in Greece
New York Times 07/06/2015
Personalities Clashing Over How to Handle New Greek Bailout
New York Times 07/23/2015
BusinessWeek 08/10/2011
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us