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ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

D-Day for Greece

There won’t be a news brief tomorrow, 09 March 2012.

Stolen from WSJ MarketBeat(‘s conversation with Kathy Lien, director of global research and analysis at GFT):

The focal point today will be the rate of voluntary participation by bondholders in a Greek sovereign bond swap. Therange of outcomes is wide: If enough bondholders step up to swap 90% of the bonds, you can more or less take a credit event off the table; stocks and the euro will soar, and we’ll see just how much Greek default fears have weighed on the recent market rally.

On the other hand, if the massive debt swap fails to attract 75% of the participants, we’re much more likely to see a credit event declared; in that case, look out below. Anywhere in between, Ms. Lien says, is a bit of a gray zone.

Meanwhile in Italy: Wolfgang Schäuble, German minister of finance, followed to lead of Dutch politician Mark Harbers, and made a ‘Greece’s problems are Greece’s fault’ kind of statement. There is no official record so far, but the pig-mask-wearing audience didn’t seem to be amused. read article

But despite the shitty economy, slump after slump after slump and austerity fun all over the place, the really bad kind of poverty in the world has declined consistently since 2005. The utilitarian is happy, the egalitarian is pissed off at the 1%. read article

Otherwise, it’s International Women’s Day, thank God there’s an infographic for that: view chart

Also, this is kind of fun [not to mention useful]: a philanthropy jargon generator. (personal favorite: ‘redefine integrated impact investing’. I think I might want to do that for living)

So long.

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