Our own big fat debt

posted by
June 28, 2011
Boston Globe
by John E. Sununu  
Posted in Commentary, PND Commentary

"Prime Minister George Papandreou of Greece didn’t play golf last weekend. He was hunkered down in Brussels trying to cut another deal to delay a seemingly inevitable default on Greek government debt. Then he had to dodge a no-confidence vote in Parliament. No matter how one describes the process -- 'restructuring'; 'delayed payments'; 'voluntary rollover' -- it amounts to the same thing: Eventually the payment terms will be changed for anyone unlucky enough to hold Greek bonds. And it’s going to hurt." (06/27/11)


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