Norman
Diamond Member
- Sep 24, 2010
- 31,254
- 15,176
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Meanwhile in the socialist utopian universe:
By Monday we will know if Venezuela has defaulted on its $65bn of outstanding bonds — or perhaps not. We will see the first glimmerings of President Nicolás Maduro’s overall debt restructuring strategy — or not. We will have a clearer idea of the kind of support that Caracas might enjoy from ally creditors such as Russia and China — or maybe not. Debt eggheads have scrambled their brains over what has already been billed as the world’s most complex debt restructuring, ever. That is why this weekend is so important. It marks the end of a grace period on two sovereign bonds and two PdVSA bonds. Which, if any, will Maduro pay? A Caracas meeting on Monday with bondholders should provide some answers. Or again, perhaps not.
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Since the people are eating rats now, what's the next diet plan after the default?
By Monday we will know if Venezuela has defaulted on its $65bn of outstanding bonds — or perhaps not. We will see the first glimmerings of President Nicolás Maduro’s overall debt restructuring strategy — or not. We will have a clearer idea of the kind of support that Caracas might enjoy from ally creditors such as Russia and China — or maybe not. Debt eggheads have scrambled their brains over what has already been billed as the world’s most complex debt restructuring, ever. That is why this weekend is so important. It marks the end of a grace period on two sovereign bonds and two PdVSA bonds. Which, if any, will Maduro pay? A Caracas meeting on Monday with bondholders should provide some answers. Or again, perhaps not.
Subscribe to read
Since the people are eating rats now, what's the next diet plan after the default?