I remembered seeing this yesterday in the WSJ about Belize insisting that creditors forgive 45% of what they owed , or allow it to delay payments for 15 years . First reaction was “yea , great if you can get away with it “. They have now confirmed no payment will be made today , giving them and it’s lenders until September 19 to agree on a restructured bond. Only $543.8 million would be in default so no big deal .
Now with Ms. Merkel being paid a visit by Samaras later this week , do we think the Greeks can get away with a better deal than that ?
