Rath on 23 February 2012
| SamuelRSmith said: How can you call "writing down 107 billion Euros" not a default? They've just defaulted on 107 billion Euros (for all intents and purposes). This is the second time this has happened, too. |
I've heard some argument (think it was on an editorial on the BBC) that the ratings companies might actually interpret this as a managed default, which is effectively what it is. Doesn't seem to have happened though.
