Dumb and Dumber

From The July 2011 Hard Rock Analyst Dispatch David Coffin and Eric Coffin Europeans came up with a Band-Aid for the Greek crisis, and the markets applauded.  Markets were buoyed by the fact the facilities set up for Greece were clearly designed to be used for some of the other Euro area basket cases if need be.  Core country leadership reiterated their unwillingness to force default or push peripheral countries out of the Eurozone.  This is admirable perhaps, but it does narrow the options for future arm twisting quite a bit.  The new plan does imply a haircut for private lenders in the order of about 21%.  This seems more than fair since the odds of these bondholders . . . → Read More: Dumb and Dumber