Wednesday, April 28, 2010


I haven't been following all of the ins and outs of the situation in Greece, but with all the talk of a Greek bailout it's important to remember that such a thing would largely be a bailout of their creditors. Sure it's the case that sovereign default by Greece would negatively impact them, though I think it's also the case that the damage from sovereign default is generally overstated. Maybe it isn't the right option, but it certainly is an option.