Charting The History Of Glorious Greek-Bondholder Relations

Today, at one point in the afternoon, CNBC's Michelle Caruso Cabrera "broke" the new that according to the IIF and its always amusing chairman Charles Dallara, Greece is about a month away from a final, conclusive and this time definitive resolution with its creditors. He punctuated the news by saying "progress has been made." Naturally, a minor detail was overlooked, namely whether the haircut would be 50% as per the Second Bailout, First Amendment, or 75% as Germany is rumored to have

Read more ...